Mysterious Tweets Elevate Hack Rumors: NEAR Price in Jeopardy?
Near Protocol faces hack suspicion after several enigmatic tweets, However, Nothing has been confirmed officially.
The technical indicators imply a bullish perspective, suggesting that there may be potential for further price appreciation.
Suspicions of a hack involving Near Protocol emerged after a series of mysterious tweets sparked discussions among social media users. The crypto community expressed surprise and concern over the potential breach of Near Protocol's Twitter account, yet no official confirmation has been made.
Despite the swirling rumors of a hack, NEAR's cryptocurrency value seemed to remain resilient, surging by approximately 6.15% and ranking as one of the top performers during the market's broader recovery phase.
Let’s delve into a more comprehensive analysis to understand the events that have transpired and assess the potential impact on NEAR's cryptocurrency value from various perspectives.
Enigmatic Tweets By Near Protocol’s Official Account Grabs The Attention
On May 9, it was suspected that the official X account of the NEAR Protocol public blockchain project had been compromised. Currently, its avatar on platform X has been changed to a completely black image, and its profile has been changed to "Dark" with confused characters.
<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Wow, <a href="https://twitter.com/hashtag/NEARProtocol?src=hash&ref_src=twsrc%5Etfw">#NEARProtocol</a> is going full satanic. <a href="https://t.co/vlVnMtRqPd">https://t.co/vlVnMtRqPd</a></p>— Marco Gallazzi (@ChartMind) <a href="https://twitter.com/ChartMind/status/1788446104784113718?ref_src=twsrc%5Etfw">May 9, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Around 4 a.m., it posted four strange tweets with scrambled characters, namely "claim your sovereignty," "darkness," "take back your own," and "The sun rises in the east." At this time, NEAR's other official social channels have not provided any explanation.
Near Protocol Price Prediction Amid Hacking Rumors
The daily chart reveals an ascending triangle pattern, with the price consistently finding support along a positively sloping trendline. Presently, the price is trading close to the pattern's upper limit, priced at $7.20.
Should the price break through the upper side, it could potentially lead to a 20% increase, reaching around $9, which aligns with the highs seen in March. However, this upward trend is contingent upon the price staying above the recent resistance level of $7.59.
Conversely, if the price dips below the lower trendline, it could signal a halt to the upward momentum, potentially leading to a decrease towards the $6 mark as indicated on the charts.
The technical indicators imply a positive outlook on a combined analysis as the price hovers above the key Exponential moving averages of 50 and 200 day.
Conclusion.
Amidst rumors of a hack based on cryptic tweets, Near Protocol's price remains robust, trading at $7.20 within an ascending triangle pattern. A breakout above could yield a 20% gain to $9, contingent on sustaining above $7.59 resistance.
On the flip side, A dip below the trendline may reverse gains, targeting $6. Technical indicators remain positive, with prices above the 50 and 200-day Exponential Moving Averages, signaling potential growth despite market uncertainties and the unconfirmed security concerns.
The technical indicators imply a bullish perspective, suggesting that there may be potential for further price appreciation.
Suspicions of a hack involving Near Protocol emerged after a series of mysterious tweets sparked discussions among social media users. The crypto community expressed surprise and concern over the potential breach of Near Protocol's Twitter account, yet no official confirmation has been made.
Despite the swirling rumors of a hack, NEAR's cryptocurrency value seemed to remain resilient, surging by approximately 6.15% and ranking as one of the top performers during the market's broader recovery phase.
Let’s delve into a more comprehensive analysis to understand the events that have transpired and assess the potential impact on NEAR's cryptocurrency value from various perspectives.
Enigmatic Tweets By Near Protocol’s Official Account Grabs The Attention
On May 9, it was suspected that the official X account of the NEAR Protocol public blockchain project had been compromised. Currently, its avatar on platform X has been changed to a completely black image, and its profile has been changed to "Dark" with confused characters.
<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Wow, <a href="https://twitter.com/hashtag/NEARProtocol?src=hash&ref_src=twsrc%5Etfw">#NEARProtocol</a> is going full satanic. <a href="https://t.co/vlVnMtRqPd">https://t.co/vlVnMtRqPd</a></p>— Marco Gallazzi (@ChartMind) <a href="https://twitter.com/ChartMind/status/1788446104784113718?ref_src=twsrc%5Etfw">May 9, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Around 4 a.m., it posted four strange tweets with scrambled characters, namely "claim your sovereignty," "darkness," "take back your own," and "The sun rises in the east." At this time, NEAR's other official social channels have not provided any explanation.
Near Protocol Price Prediction Amid Hacking Rumors
The daily chart reveals an ascending triangle pattern, with the price consistently finding support along a positively sloping trendline. Presently, the price is trading close to the pattern's upper limit, priced at $7.20.
Should the price break through the upper side, it could potentially lead to a 20% increase, reaching around $9, which aligns with the highs seen in March. However, this upward trend is contingent upon the price staying above the recent resistance level of $7.59.
Conversely, if the price dips below the lower trendline, it could signal a halt to the upward momentum, potentially leading to a decrease towards the $6 mark as indicated on the charts.
The technical indicators imply a positive outlook on a combined analysis as the price hovers above the key Exponential moving averages of 50 and 200 day.
Conclusion.
Amidst rumors of a hack based on cryptic tweets, Near Protocol's price remains robust, trading at $7.20 within an ascending triangle pattern. A breakout above could yield a 20% gain to $9, contingent on sustaining above $7.59 resistance.
On the flip side, A dip below the trendline may reverse gains, targeting $6. Technical indicators remain positive, with prices above the 50 and 200-day Exponential Moving Averages, signaling potential growth despite market uncertainties and the unconfirmed security concerns.