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The NEAR Protocol price has surged with a 16% increase in the last 24 hours. trading at $1.51 at 11:44 pm EST.
The price increase is a direct result of a partnership announced Wednesday with Nym Technologies.
This collaboration aims to integrate Nym mixnet into the NEAR ecosystem seamlessly.
Nym is excited to announce an innovative partnership with @NEARProtocol!
Nym mixnet will be integrated into the NEAR ecosystem to provide unparalleled privacy to all traffic transmitted over the blockchain. More information: 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 $326 million, compared to the previous day’s volume.
Can the price near the protocol resist the rejection at the $1.61 level?
NEAR price has seen a price rise from the $0.97 support zone to the $1.61 resistance level. This upward move follows a prolonged downtrend and marks a significant breakout, indicating a sustained uptrend.
The resistance at $1.61 caused a temporary pullback by the bulls, allowing the bears to initiate a correction that could potentially target the support level at $1.38, which aligns with the 200-day moving average.
However, the bulls quickly regained dominance and continued their upward movement.
NEAR protocol price to reach $2.56 level
The bounce in NEAR price not only propelled it higher but also led it to break above 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) is showing an upward trend, with the price bouncing 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 rise from $0.97 to $1.61.
The price recovered from the $0.97 support area supported by the 200-day moving average. This positive momentum, coupled with support from the RSI and 50-day SMA, may push the price beyond the $1.61 resistance level as bulls target a new high of $2.56.
Bearish traders may view the resistance level as an opportunity to recoup their losses and push the price towards the $1.38 support level. If the correction continues, the bulls may need to retreat to the $1.18 support zone.
Meanwhile, the BTCMTX pre-sale project is seeing a significant surge, with the token approaching its default soft cap of $3.385 million. Investors can consider participating in the pre-sale and use its staking feature to earn substantial returns.
BTCMTX: less than 5 hours, buy fast
BTCMTX Presale is quickly gaining traction, having amassed over $3.1 million in funding in its Stage 4, closing in less than 5 hours.
Exciting announcement #BitcoinMinetrix It 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 pre-sale initiative. Investors are intensely interested in BTCMTX, and the token’s value is poised to surge as the pre-sale moves toward its $3.385 million soft cap target.
The pre-sale has a maximum limit of $15 million and participants can purchase up to 77.5% of the token supply.
A portion of the tokens will be allocated to fund 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 ends in less than 24 hours! pic.twitter.com/VbNQprvh84
—Bitcoinminetrix (@bitcoinminetrix) November 1, 2023
Additionally, 15% of the tokens will reward community members who actively participate in the project, and 8% will be reserved for BTCMTX staking rewards until the development of the bitcoin Minetrix cloud mining platform is completed. .
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 use the pre-sale widget to purchase tokens. Make sure you have enough eth or BNB to cover the associated gas fees.
Presenting #BitcoinMinetrixthe revolutionary cloud mining solution that allows people to participate in #Decentralized $btc mine easily.
With the risks of third-party cloud mining removed, users enjoy complete control over their mining activities.#bitcoin Mining pic.twitter.com/BV7BE7AfKs
—Bitcoinminetrix (@bitcoinminetrix) November 1, 2023
Additionally, you can stake your tokens to acquire additional BTCMTX tokens and once the app is launched, there will be an opportunity to stake to earn mining credits (stake-to-mine). Over time, staked BTCMTX tokens will generate mining credits, increasing your bitcoin cloud mining earnings as you use 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 pre-sale.
Easily purchase your $BTCMTX tokens through the official bitcoin Minetrix website.
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