NEAR Soars 25%, But Analysts Warn of Potential Correction
Near Protocol (NEAR) experienced a significant price surge, increasing by 25% in a single day to briefly reach $4.40.
This marks an impressive gain of over 120% on a monthly basis, with NEAR currently trading at around $4.30.
The cryptocurrency market's overall uptick, particularly Bitcoin and Ethereum, has been attributed as a key factor driving NEAR's price ascent.
However, some analysts believe that the asset may be overbought, with its Relative Strength Index (RSI) reaching an all-time high above 91. Additionally, recent exchange netflow suggests that a correction could be on the horizon.
Despite this, many remain bullish on NEAR's prospects, with one analyst predicting a potential break through to new highs in Q4. Another analyst has even set targets of $8 and $20, suggesting the token may skyrocket as high as $40.