NEAR Protocol (NEAR) Outshines Ethereum (ETH): Analyst Jamie Coutts Predicts Bullish Targets

  • Real Vision crypto analyst Jamie Coutts has predicted a bullish future for NEAR Protocol (NEAR), an Ethereum competitor.
  • According to Coutts, key indicators suggest that NEAR could see a surge of more than 47% from its current value.
  • Coutts’ analysis is based on the asset’s price momentum, relative price momentum, and active user momentum.

NEAR Protocol, an Ethereum competitor, is set to soar according to crypto analyst Jamie Coutts. Key indicators suggest a bullish future, with potential growth of over 47%.

NEAR Protocol’s Bullish Indicators

Jamie Coutts, a former Bloomberg analyst and current crypto analyst for Real Vision, has been observing NEAR Protocol’s performance. He recently shared his insights with his 14,100 followers on social media. Coutts’ analysis of NEAR’s price momentum, relative price momentum, and active user momentum suggests a bullish future for the Ethereum competitor.

Price Momentum and Technical Patterns

Coutts noted that NEAR has been consolidating since March and is now showing an extremely bullish technical pattern. If it breaks the resistance around $7.60, where a cluster of volume has traded in recent months, it could reach a target above $10.50, representing a growth of over 30%. Coutts identified an inverse head and shoulders pattern (I-HNS) in NEAR’s chart, a bullish technical formation that suggests bulls are willing to accumulate the asset without waiting for the price to drop to its previous low.

Relative Price Momentum and User Growth

The analyst also predicted that NEAR’s bullish trend against Bitcoin (NEAR/BTC) and Solana (NEAR/SOL) will continue. In addition, NEAR is experiencing significant daily active user (DAU) growth on the network compared to other smart contract platforms, which Coutts sees as another bullish signal. NEAR’s DAUs have grown from 50,000 to 1.76 million in the past year, far exceeding the combined growth rate of other layer-1 and layer-2 projects.

Conclusion

NEAR Protocol’s key indicators are flashing bullish according to Jamie Coutts. With a potential growth of over 47%, NEAR could be a strong contender in the crypto market. However, as with all investments, potential investors should conduct their own due diligence before making any decisions.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Donald Trump Acquitted Amid Legal Battles: Judge Juan’s Ruling Sparks Controversy

COINOTAG News reports that a recent ruling by Judge...

Trump’s Lawyer Todd Blanche Vows to Appeal Verdict Amid Controversial Court Proceedings

In a recent statement reported by COINOTAG News, Todd...

Trump’s Legal Turmoil: No Remorse as He Challenges Justice System Integrity

In a significant development for the political landscape, President-elect...

Trump Faces Critical Court Ruling Ahead of Inauguration: Will Presidential Immunity Delay Sentencing?

On January 10th, COINOTAG News reported that U.S. President-elect...

Market Update: Bitcoin-Sensitive Stocks Decline as Crypto Sector Opens Lower

On January 10th, COINOTAG News reported that the **US...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img