NEAR Protocol is a layer-one blockchain that was designed as a community-run cloud computing platform and that eliminates some of the limitations that have been bogging competing blockchains, such as low transaction speeds, low throughput and poor interoperability.
NEAR is trading inside a rising parallel channel from the $7.30 horizontal support area. NEAR has completed the second wave of five waves up.
NEAR dropped from its all-time high of $13.22 on October 26 to $6.20 reached on December 4, but then bounced back. NEAR confirmed the $7.30 support point. The Near Protocols coin continued to rise. The continued upward move is also supported by technical indicator readings.
The RSI, a momentum indicator, has already crossed above 50. This is considered a sign of an uptrend. Therefore, the outlook shows that NEAR is in an uptrend.
The daily chart shows that NEAR can still trade within an ascending parallel channel. However, NEAR needs to tap again and validate as support to make this occurrence valid.
Cryptocurrency trader Pierre outlined a NEAR chart, stating that the token could continue moving upwards if it manages to reclaim the $10 area.
For the upside to continue, it would be ideal if the token finds support and bottoms higher within the $8.35-$9 area created by the 0.5-0.618 Fib retracement level.
The wave count shows that NEAR has just completed the second wave of a five-wave bullish impulse. The second wave is corrective and held inside the ascending parallel channel. For the number to remain valid, the token must continue to trade above the December 4 low of $6.12. If true, the rate of increase is expected to accelerate greatly, as the third wave is the sharpest of the five upward wave moves.
NEAR Protocol, Web 3.0'a bu geçişi kolaylaştırmayı amaçlayan bir projedir. Right now, NEAR is handling around 300,000 transactions per day, which is just a fraction of its capability. But the developers see a need to go ahead and transition to a more efficient system called Nightshade. It's still in what it calls "phase zero," meaning it's not quite ready for mainstream adoption. But phase one is scheduled to begin early next year, and phrase three is expected to be implemented before the end of 2022.