The Near Protocol price surged over 85% in the past week to trade at $7.93 as of 3:15 a.m. EST.

The Near Protocol Price Attempts To Break Resistance

4-hour chart for NEAR/USDT (Source: TradingView)

The Near Protocol price has printed a series of higher highs and higher lows on its 4-hour chart throughout the past week, resulting in the formation of a bullish price channel. This positive momentum has pushed the altcoin’s value all the way up to the $8.578 resistance level, which it is currently attempting to breach. 

Overcoming this threshold will be a major bullish development, since it is also confluent with the upper boundary of the aforementioned price channel. As such, a 4-hour candle close above $8.578 in the next 24 hours could give the Near Protocol price a strong foundation to enter into another strong leg up.

This bullish scenario may be postponed if the Near Protocol price is rejected by the $8.578 mark in the coming 24 hours. Bouncing off of the threshold could cause NEAR to retrace to $7.295 in the following 12 hours. This potential correction may just be a liquidity building move before the altcoin enters into another move towards the upside. 

However, a break below $7.295 may invalidate the bullish thesis, as it will also result in the Near Protocol price falling out of its ascending channel. In this alternative scenario, the crypto may drop to the subsequent support level at $6.224 in the following 24-48 hours. An extremely bearish situation could see NEAR fall to as low as $5.184 in the short term.

Technicals Warn Of A Near Protocol Price Correction 

Technical indicators on NEAR’s 4-hour chart suggest the crypto may undergo a correction in the coming 24 hours. Both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) show that bulls’ strength is starting to wane.

The MACD line is collapsing towards the MACD Signal line, which generally indicates that a crypto’s positive trend has reached a peak and is at risk of a bearish reversal. Investors and traders will want to keep an eye on the RSI, however, as it recently triggered a major bearish technical flag. This is after the RSI crossed below its Simple Moving Average (SMA) line, signaling that sellers are now stronger than buyers.

While the Near Protocol price stands the risk of a correction, eTukTuk is rapidly gathering momentum as its presale soars past $2 million raised.

Giving Third World Countries Access To Green AI-Powered Transport

eTukTuk is on a mission to drive the electric vehicle (EV) revolution and slash global carbon emissions. At the core of this initiative is the project’s electric Tuk Tuk – a three-wheeler taxi that is a popular mode of transport in countries such as Bangladesh and Pakistan.

“eTukTuk’s core premise is straightforward but powerful.
It aims to replace polluting combustion engine tuk-tuks (three-wheeled taxis) with clean, affordable electric vehicles and charging infrastructure.” – @WatcherGuru

Read more here:https://t.co/Rv4MoURl9w

— eTukTuk (@eTukTukio) March 12, 2024

These EVs, frequently used as taxis, can be built using no more than 200 parts. eTukTuk plans on lowering the manufacturing costs of its EVs by forming strategic partnerships with local manufacturers.

In addition to reducing the adoption costs for governments in developing countries, this also brings down the purchase and operational costs of each vehicle – giving mini-taxi drivers some financial relief.

The cost-efficiency of eTukTuk’s EVs does not stop there, as the project’s AI models also provide drivers with the most optimal routes to their destinations.

This empowers them to potentially complete more trips and subsequently earn more each day. eTukTuk also provides financial incentives for anyone that installs and maintains a charging station with its native crypto token, TUK.

eTukTuk Rewards Investors As Well

The project’s rewards are not limited to taxi drivers and charging station operators, as eTukTuk’s presale includes a lucrative staking program as well. Investors who buy into the project at this early stage will gain access to up to 124% in annual rewards.

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To get started, investors will need to buy TUK on the project’s official website. It is currently selling for $0.028, and can be purchased using either Binance Coin (BNB), Ethereum (ETH). Tether (USDT) or a bank card. Anyone looking to buy TUK may want to do so soon as the crypto’s price is set to increase in about five days.

TUK can be purchased here.

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• Source: https://insidebitcoins.com/news/near-protocol-price-prediction-near-rallies-85-in-a-week-but-investors-shift-to-this-green-ai-presale-that-just-blasted-past-2-million