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Near Protocol Forecast

 


The near protocol price, after hitting the $3.216 support, was able to form a trend line which is steadily serving as resistance as well. A descending triangle has been formed with the trendline heading toward the $3.216 support. Such triangles often serve as a bearish one trend continuation pattern, which is why a downside breakout is more likely than an upside breakout. This is the reason why one should not invest in the Near Protocol project for the time being. However, that doesn't mean the project itself is bad. You could buy at cheaper rates in the next few weeks and months and thus get more NEAR Coins. Since the economic situation is not the best at the moment, it is generally more likely that crypto prices will fall a little further.

If there is an actual bearish breakout, which is very likely, the price could target the next support. This sits at around $2,167. Thus, the Near Protocol course could still fall by a further +/- 25%. From there you could invest smaller sums in Near Protocol, if you intend to. Whether or not this will be the bottom of the bear market remains to be seen. 

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