After days of decline, Near Protocol [NEAR] bulls took over the market but painted the token’s charts green.
bulls took over the market but painted the token’s charts green. Therefore, AMBCrypto assessed the token’s metrics and technical indicators to predict Near Protocol’s price.NEAR bulls managed to control the week as the token’s price surged by more than 2% last week. Things got better in the last 24 hours as the tokens value increased by over 3%.
This meant that bullish sentiment around the token was dominant in the market. Its Social Volume also remained stable last week, which indicated that the token’s popularity remained intact.It was interesting to note that while the token’s price gained bullish momentum, NEAR protocol’s captured value dropped.
Whenever the Open Interest increases, it suggests that the chances of the ongoing price trend continuing are high, which on this occasion, was bullish.This meant that there were more short positions in the market than long positions, suggesting a rise in bearish sentiment in the market.
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