- NEAR sits on a liquidity pool that has held for years.
- Can the popular altcoin catapult to $10 and $20 soon?
- Analyst says NEAR price could surge as far as prices above $100.
The crypto market continues to prove itself to be a space for the patient and the level-headed. Despite the altseason being skipped last bull cycle, most altcoin analysts continue to remain strong and hold or accumulate more of their most faithful altcoins and hope to see bullish days return. Now many altcoins are printing bullish patterns. For instance, NEAR sits on a liquidity pool that has held for years.
NEAR Sits on a Liquidity Pool That Has Held for Years
Ever since the price of BTC surged from the $60,000 price range to the $80,000 price range, the crypto market experienced a full 180 degree flip in terms of sentiments. In a single leap, the crypto community went from calling for deeper drops in prices towards a bear market bottom to calling for the end of the bear market phase and declaring the start of the early bull market phase.
Alongside the spike in BTC prices, the price of the pioneer altcoin Ethereum (ETH), also went up by a significant amount. In particular, the price of ETH went from prices below $2,000 to prices above $2,500. The sudden change in sentiments was due to the price of Bitcoin (BTC) and ETH both breaking past several resistance levels in one bullish stretch. Despite the massive surge, the asset failed to break past two critical levels.
According to reputed crypto analysts, the price of BTC hitting $82,000 and going above the $84,000 price range would confirm the official start of the bull market. Likewise, during that time, the price of ETH is expected to hit $3,000 and higher, allowing the prices of altcoins to surge at a parabolic rate as well. Already, several altcoins are showing strong bullish indicators across their respective price charts.
Can the Altcoin Catapult to $10 and $20 Soon
So far, several altcoins, including ETH, FIL, FET, NEAR, LINK, SUI, and many others are all printing higher bullish pennants across their price charts. In particular, many altcoins are showing bullish signals, mirroring the multi-year bullish pattern on the total altcoin price chart as well. Recently, altcoin NEAR was approaching a very important level as the asset developed an inverse head & shoulders setup.
As we can see from the post above, this expert notices how NEAR is sitting on a liquidity pool that has held for many years. Every major touch of this zone has eventually produced an aggressive expansion. Now, another Buy signal is appearing around $1.90 while the long-term structure is pointing toward a much bigger move.
Previous cycles pushed NEAR towards the $10 and $20 price targets. If the pattern repeats, the next expansion could take the price of NEAR into the $100 and above price territory. This is the kind of setup that looks boring right before it stops being boring, concludes the expert. At the moment, the price of NEAR is trading at the $1.84 price range.