NEAR Protocol Price Prediction: NEAR Soars 16% On Nym Technologies Partnership As This Bitcoin Cloud Mining Project Raises $3 Million

ByEvans Karanja

Updated: 02 November 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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The NEAR Protocol price has surged with a 16% increase in the past 24 hours, trading at $1.51 at 11:44 p.m. EST.

The price rise is a direct outcome of a partnership announced on Wednesday with Nym Technologies.

This collaboration aims to integrate Nym mixnet into the NEAR ecosystem seamlessly.

🎉 Nym is thrilled to announce a groundbreaking partnership with @NEARProtocol!

The Nym mixnet will be integrated into the NEAR ecosystem to provide unparalleled privacy to all traffic transmitted across the blockchain. 🚀 Learn more: https://t.co/jqtVYzlbN4 pic.twitter.com/xH2wsOyZmL

— Nym (@nymproject) November 1, 2023

This surge has contributed to a 31.1% weekly gain for the token, sparking interest from investors and buyers.

NEAR Protocol’s trading volume also increased by 173% to reach $326 million, compared to the volume from the previous day.

Can Near Protocol Price Withstand the Rejection at the $1.61 level?

NEAR/USD Chart Analysis. Source: Tradingview.com — NEARUSD Chart Analysis. Source: Tradingview.com

The NEAR price has experienced a price increase from the $0.97 support zone to the $1.61 resistance level. This upward movement follows a prolonged downtrend and marks a significant breakout, indicating a sustained bullish trend.

The resistance at $1.61 led to a temporary retreat by the bulls, enabling the bears to initiate a correction that could potentially target the $1.38 support level, which aligns with the 200-day moving average.

Nonetheless, the bulls swiftly regained dominance and continued their upward movement.

NEAR Protocol Price Set to Reach the $2.56 Level

The rebound in NEAR’s price not only propelled it upwards but also resulted in it surpassing both the 50-day and 200-day simple moving averages (SMA). These moving averages act as immediate support levels, further strengthening the bullish momentum.

The relative strength index (RSI) shows an upward trend, with the price rebounding from the oversold region, above the 50-level mark, to the current 82 above the overbought region. This suggests significant buying pressure coinciding with the price surge from $0.97 to $1.61.

The price rebounded from the $0.97 support area supported by the 200-day moving average. This positive momentum, coupled with backing from the RSI and the 50-day SMA, can drive the price past the $1.61 resistance level as the bulls target a new high at $2.56.

Bearish traders may see the resistance level as an opportunity to recoup their losses and push the price down to the $1.38 support level. If the correction continues, the bulls might need to retreat to the $1.18 support zone.

Meanwhile, the BTCMTX presale project is experiencing a significant surge, with the token approaching its predetermined soft cap of $3.385 million. Investors may consider participating in the presale and utilizing its staking feature for substantial returns.

BTCMTX: Less than 5 Hours, Buy Fast

BTCMTX’s presale is rapidly gaining traction, having amassed more than $3.1 million in funding in its Stage 4, closing in less than 5 hours.

Exciting Announcement 🚀#BitcoinMinetrix has raised over $3,000,000! pic.twitter.com/Hs2063y9tJ

— Bitcoinminetrix (@bitcoinminetrix) November 1, 2023

This Bitcoin cloud mining platform proves its worth by providing real utility and value through its presale initiative. Investors are intensely interested in BTCMTX, and the token’s value is poised to rise as the presale advances toward its $3.385 million soft cap target.

The presale has a $15 million hard cap, and participants can acquire up to 77.5% of the token supply.

A portion of the tokens will be allocated to finance Bitcoin mining activities, launch the platform, promote the token, establish a cloud mining facility, or secure a long-term lease for such a facility.

#BitcoinMinetrix Stage 4 is ending in less than 24 hours! 🕑 pic.twitter.com/VbNQprvh84

— Bitcoinminetrix (@bitcoinminetrix) November 1, 2023

Furthermore, 15% of the tokens will reward community members actively engaged with the project, and 8% will be reserved for BTCMTX staking rewards until the Bitcoin Minetrix cloud mining platform’s development is complete.

Buy BTCMTX, Stake, and Earn Passive Profits

To participate, you can purchase BTCMTX tokens using ETH, USDT, BNB, or a bank card and stake them to earn cloud mining credits.

Simply connect your wallet to the BTCMTX website and utilize the presale widget to acquire tokens. Ensure you have sufficient ETH or BNB to cover any associated gas fees.

Introducing #BitcoinMinetrix, the revolutionary cloud mining solution empowering individuals to engage in #Decentralised $BTC mining with ease. 💠

With the elimination of third-party cloud mining risks, users enjoy total control over their mining activities.#BitcoinMining pic.twitter.com/BV7BE7AfKs

— Bitcoinminetrix (@bitcoinminetrix) November 1, 2023

Furthermore, you can stake your tokens to acquire additional BTCMTX tokens, and once the app is launched, there will be an opportunity for staking to earn mining credits (stake-to-mine). Over time, staked BTCMTX tokens will generate mining credits, increasing your Bitcoin cloud mining earnings as you utilize them.

Cilinix Crypto, a prominent YouTuber with over 34.2k subscribers, has offered an in-depth review and guidance to his audience on this exciting opportunity and has personally invested in the presale.