What's up Near (Near Protocol)?

- 📊 Recent price moves:
It's been some days that Near has broke a significant dynamic resistance, experiencing an uptrend in line with the whole crypto market. Now the bears are taking back the ground and pushed the price to $1.55 level. Will the bullish trajectory continue?

Let's weigh the situation.

- ✅ Positives:
1️⃣ Near is witnessing a notable growth in its userbase, including no. of unique and active addresses, TVL, transactions volume and no. of transactions.

2️⃣ Developers activity has surged in the recent weeks.

3️⃣ Despite some drops in social dominance, still it's at relatively good levels and even showing signs of a revival.

4️⃣ A lot of positive news are being heard from Near, e.g. Illia Polosukhin (Near co-founder and an AI master mind) has been appointed as CEO. Additionally, recent partnerships and products and services are green-lighting the bulls, since they'll boost Near's privacy, use cases, developer-friendliness, scalability and efficiency.

- ❌ Negatives:
1. Rising transaction fees!

- Overall status (Daily time-frame): Bullish 🐃

📈📉 Scenarios & levels:

🔴 If a bearish atmosphere fill the overall market, Near will be no exception. If the bears overcome the bulls at $1.5 level, the next station for the price will be $1.3.

🟢 On the contrary, if the price goes on with its current short-term uptrend, $1.75~$1.85 level will try to block its path. If the buyers fight hard enough, the price hits $2.2. Looking at the 4H chart, moving average (50) and the bottom of the channel are potential supports, along with the trendline and static support.

Currently, the price doesn't seem to match the recent positive news, signs, and data. So the bulls may have the upper hand.

⚠️ NOT A FINANCIAL ADVICE!

Trade due to your risk appetite, consider overall market conditions and like always, remember to DYOR 😉

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