Near managed to stay in positive territory even though the market has plummeted lately. This AI token seems to be resilient to the latest bad news from the tech industry and could deliver sizable gains in the future according to one popular trader.
Just a few hours ago, Meta Platforms announced that it will temporarily stop adding new members for its AI team, citing some “basic organizational planning”.
The company has been on a hiring spree lately to supercharge its efforts to develop powerful artificial intelligence models.
Reports indicated that Meta had been offering signing bonuses of more than $100 million to the best candidates while it spent $14.3 billion to acquire Scale AI.
Despite this bearish news, trader CryptoBusy, whose X account is followed by more than 200,000 users has shared a bullish Near price prediction as he believes that the token is ready to step out of a long-standing phase of accumulation.
This trader sees a potential move to around $10 to $12, meaning an upside potential of 5X to 6X based on the current price. A confirmed breakout above $3.5 would trigger such a move according to CryptoBusy’s prediction.
Near Price Prediction: NEAR Could Rise to $4 If This Key Support Holds
The 4-hour chart shows that selling pressure accelerated as NEAR hit $2.85. The token has been dropping since it last touched this area and could be eyeing the $2.35 level as its next target.
This has been a highly contested area for both bulls and bears, which increases its relevance for traders if future moves push the price to this level.
Technical indicators have started to show early signs of a trend reversal. For example, the Relative Strength Index (RSI) just bounced off oversold levels in this lower time frame. It has also moved above the 14-period moving average, which is typically considered a buy signal.
A drop to $2.3 is possible during this pullback. However, if the price bounces off this level with strong volumes, the odds favor a strong push toward $2.85 first and then an explosive move that could propel NEAR to $4 as the latest rally resumes.
Although this means an attractive upside potential of 73%, a popular meme coin called Wall Street Pepe (WEPE) could be poised to deliver even higher gains as it has started its migration to the Solana blockchain.
Wall Street Pepe (WEPE) Could 10X Amid Its Ongoing Token Burn
Wall Street (WEPE) is migrating to Solana and this is a big deal as it could drive higher volumes toward a token that closed one of the best crypto presales of the year just a few months ago.
The WEPE army is a community of like-minded traders who share insights and get trading ideas from each other. They all have one thing in common – they want to see WEPE take over the crypto world.
After its huge success in Ethereum, the road has been paved for a massive launch in Solana – the best blockchain for meme coins.
The developing team has pledged to burn the corresponding dollar value of all WEPE (ETH) tokens migrated to Solana to shrink the circulating supply and boost the price of this Pepe-inspired meme coin.
You can buy Wall Street Pepe and benefit from this migration boost by visiting the official Wall Street Pepe website. Simply connect your wallet (e.g. Best Wallet) to swap ETH or SOL for this token or use a bank card to invest.
Click Here to Get WEPE on Solana
The post AI Coins Defy The Odds: NEAR Price Up 3% Despite Meta AI Hiring Freeze And Market Downturn, What’s Next? appeared first on Cryptonews.
