NEAR Price Prediction indicates that the token might reach $6.44 to $10 in the near term (2024-2025) and $40 to $65 in the long term (2030). The fundamentals show clear growth in terms of revenue, user activity, and on-chain decentralized applications and technical charts indicate a repeat of historic price patterns.
Take a look at our most bullish Price Prediction coverage: Mantra (OM).
What is Near Protocol (NEAR)?
NEAR is a highly scalable layer-1 blockchain that is cost-effective, has a high transfer rate, and is highly utility. It has witnessed a sustained growth in user activity and is used for several general-purpose applications, such as dApps, DeFi, gaming protocols, and crypto-based passive income applications.
It is the 17th largest crypto and has a market cap of $5.74 billion.
Fundamental Analysis
NEAR provides a highly scalable infrastructure for several general-purpose applications, especially IoT.
Several highly popular dApps exist on the Near Protocol like Sweat Economy that reward users to use its activity tracker app. Another popular app is the DeFi protocol named Burrow. These apps generate sustainable revenue for NEAR which is essential for long-term growth.
The NEAR protocol makes around 6 to 8 million transactions a day and has around 1 million unique addresses that interact with its blockchain every day.
Further, with cheap gas prices of 0.0001 NEAR/Tgas, the blockchain can attract dapps that need scalable infrastructure.
It would be a tough competition between Near Protocol and its strongest competitor, Solana.
Technical Analysis
After reaching a high of $8.99 on March 15, 2024, NEAR slid down in a zig-zag fashion to the current level of $4.6. It tried to recapture $5.6 levels but failed due to a marketwide correction.
The current price of $4.6 lies on top of a crucial support. If this support is broken, NEAR may fall down to $3.5 levels. On the upside, NEAR could again break out above $6.4, if its price manages to breach $5.6 with high momentum.
Taking a look at its technical indicators, we see that NEAR’s RSI has corrected from 70 to 50, where it has taken support and might reverse its direction. This might cause momentum in NEAR’s price and take it upwards.
However, as MACD lies in a negative crossover zone and the moving average lines are still diverging, we might not see a strong rally in NEAR for the next few days.
To make further gains, NEAR needs to hold its current price level.
NEAR Price Prediction
We expect NEAR to cross $6.44 in the short term and $40 in the long term.
NEAR Price Prediction 2024
NEAR has encountered resistance at $5.5 but we expect a breakout soon because of the alt season. The 2024 high for NEAR could be around $6.4 to $0 depending on global geopolitics.
NEAR Price Prediction 2025 – 2026
By the peak of the alt season which is expected to be around late 2025 or early 2026, we assume NEAR could get around $20 levels. This estimate is supported by strong ecosystem growth and healthy on-chain metrics mentioned above in the fundamental analysis section.
NEAR Price Prediction 2027
The year 2027 is expected to be a bearish year in the 4-year crypto cycle. It might see deep corrections in NEAR to $15. However, if the regulations and macroeconomics run in their favor, NEAR could indeed gain a price of around $30.
NEAR Price Prediction 2028
A pre-halving rally could easily take NEAR to $60 levels supported by strong fundamentals.
NEAR Price Prediction 2029
The 2029 alt season could prove to be a game-changer for NEAR and other utility-driven blockchains. On the back of increased adoption, the crypto might see its price end up between $50 to $70.
NEAR Price Prediction 2030
In the long term, we expect NEAR to reach the price range between $65 to $100. This is based on its current fundamentals, growth among the utility-based L1 chains, and the rise of tokenized assets.
