As the first quarter of 2024 ends, a significant bull rally in cryptocurrencies seems imminent. The current upward trend in the market is crucial for cryptocurrencies aiming for a $10 billion market cap. We have analyzed two cryptocurrencies targeting this milestone for you.
NEAR Protocol (NEAR)
NEAR Protocol (NEAR) is considered an Ethereum competitor and remains in the top 20 cryptocurrencies. Its current price is $7.97, with a market cap exceeding $8.5 billion. NEAR’s advancements in artificial intelligence seem to strengthen its market presence.
Recent months have seen a notable increase in trading activities for NEAR. Additionally, the demand in the open interest market highlighted a potential price rise. NEAR experienced a 13% increase last month, with a 113% price change since the beginning of the year, paralleling the rise in AI tokens.
Looking at NEAR’s price, the next resistance level is at $9.59, and a breakthrough at this level could target $11.56. Developments in AI, Nvidia’s market impact, and the approaching bull market in cryptocurrencies could show investors that NEAR has reached a $10 billion market cap in the future.
Polygon (MATIC)
Polygon (MATIC) has been in the market for years as an Ethereum (ETH) scaling solution. However, there is short-term uncertainty in Polygon’s price, with most indicators showing consolidation. As of today, MATIC has a market cap of $7.15 billion and is trading at $0.7232. In the last 7 days, MATIC’s price has shown only a 1.2% increase.
Polygon remains close to its resistance level of $0.72, with support at $0.60. If it stays above resistance, it could move to $0.84. Despite the market’s decline after a strong first quarter, Polygon could recover, and its price might return to $1 soon.
Although Polygon (MATIC) is currently $2.9 billion short of the $10 billion mark, it could reach this level if its price potentially rises above $1 in the future.
