Best of August Week 2 Predictions

Hello Merchants!

This week saw some crazy price movements, especially in alternative layer 1 solutions particularly Solana, Cardana and NEAR. Although Ethereum’s London upgrade strengthened its monetary value and made fees more predictable for users, it did not lower gas fees. Gas will likely remain relatively high until the merge occurs in early 2022, finally moving ETH to a proof-of-stake protocol. Until then, we should see continued growth of alternative layer 1s.

Solana started the week off trading in the $40’s range but very swiftly broke $50 and rocketed past its May all time high of $55 to end the week trading above $70’s. While NEAR is not where close to its all time high of $7.50, NEAR still had a strong week, starting off at $2.69 and gaining nearly 30% to finish at $3.46.

NEAR again continued its upwards momentum, first by starting the week off breaking $3.00 resistance and ending the week off testing the $3.50 levels. At the time of writing, NEAR is currently trading at $3.90 and should see clear skies until $4.20 level as indicated by our last analysis.

As for community predictions, all submissions were bullish with three prominent resistance levels. Couple submissions predicted NEAR to fail to break the $2.90-$3 levels, couple submissions predicted NEAR to stagnate around $3.10, and quite a few predicted NEAR to test the $3.40-$3.50 range.

The top 3 predictions are showcased below:

RSI of 70 is high but still does not indicate NEAR is overbought.NEAR has already moved past the first few Fibonacci retracement levels and should carry it’s momentum to the final level at $3.45.

-Bernard0710

breaking out through an imp level and moving up slowly. For this week NEAR broke the range and upward which is having a continuous bullish momentum. My price prediction for 17th Aug is 3.45

-ramkumar56

For this week NEAR should continue its momentum with its upwards trend channel. NEAR has broken through the $3.0176 resistance level and should continue until reaching the $3.43 level.

-huihui1407

Submissions for Week 3 are now open: https://forms.gle/fR9XU7dFVtp8xid79

Best of luck and happy hodling!