NEAR Protocol Bull Run Predicted: 60% Surge to $10 in Sight

Veteran analyst predicts a 60% surge for NEAR Protocol, targeting a $10.50 price, citing its uptrend and breakout potential. The analyst also highlights promising Solana ecosystem tokens, including Pyth Network (PYTH), Jupiter (JUP), and Jito (JTO), emphasizing their utility in the flourishing Solana ecosystem.

NEAR Protocol Projected to Surge Past $10 Amid Bullish Market Sentiment

Analyst Predicts 60% Increase for Ethereum Rival

A seasoned analyst in the cryptocurrency industry has forecast a significant surge in the value of NEAR Protocol (NEAR), predicting a 60% increase from its current price. The analyst, known to their 253,000 followers on Twitter as Bluntz, expressed optimism regarding NEAR's prospects, indicating that it could reach a new two-year high above $10 within the next fortnight.

Bluntz's analysis suggests that NEAR has been on an upward trajectory and is poised for a substantial rally in the coming weeks. At the time of writing, NEAR was trading at $6.63, experiencing a slight dip of 3.72% in the preceding 24 hours. However, the token had previously reached an intraday high of over $7, indicating strong buying pressure.

With a market capitalization of approximately $7 billion, NEAR ranks 20th among all cryptocurrencies, trailing shortly behind Litecoin. Since the beginning of the month, NEAR has fluctuated between a high of $7.3402 and a weekly low of $6.1, before gradually recovering its value. Despite recent setbacks, NEAR has demonstrated a notable gain of over 52% in the past month, rising from $4.44 at the end of March.

Bluntz's prediction of a sharp spike in NEAR's value hinges on its ability to break through a trendline that has persisted since it reached a new two-year high of nearly $9 in mid-March. Historical data reveals that this trendline has served as a formidable resistance level, resulting in progressively lower price increases with each successive wave of buying activity. Therefore, for NEAR to achieve its target of $10.50, it must overcome this resistance.

NEAR Foundation Enhances Protocol with Chain Signatures

Concurrent with the positive price projections, the NEAR Foundation has continued to refine and develop the NEAR Protocol. Its most recent innovation, chain signatures, empowers users to execute transactions across multiple blockchain networks with a single account. Illia Polosukhin, the founder of NEAR, hailed this feature as a pivotal step towards simplifying blockchain accessibility.

"Chain Signatures is the next step in that journey, making it significantly easier to transact on any blockchain while also defragmenting liquidity across the ecosystem," Polosukhin stated.

Moreover, rumors have circulated about a potential partnership between the NEAR Foundation and Nvidia, fueled by Polosukhin's involvement with the chipmaker. Nvidia has emerged as a prominent player in the AI revolution, and such a collaboration could significantly benefit NEAR's development.

Solana Ecosystem Tokens Poised for Gains

Beyond NEAR, the analyst has also identified several promising tokens within the Solana ecosystem. Solana has witnessed exceptional growth over the past year, fostering a vibrant ecosystem that has produced some of the most successful tokens during the ongoing bull market. While meme coins like WIF and Bonk have garnered significant attention, the analyst has directed attention towards tokens with underlying utility on Solana.

One such token is Pyth Network (PYTH), an oracle network that aspires to rival Chainlink. Despite a recent decline of close to 10%, PYTH remains up by approximately 143% since the beginning of the year.

The analyst has also highlighted two Solana-based DeFi tokens, Jito's JTO and Jupiter's JUP, as potential investments. These tokens offer unique value propositions within the decentralized finance space on Solana.