NEWT Price Prediction: Newton Protocol is set to pump 85%, expected to reach a historical high of 0.82 USD.

The Newton Protocol (NEWT) is experiencing an astonishing pump, currently reported at 0.5695 USD in the European early session today (24th), with a daily increase of over 85%. NEWT is the native utility Token of the Newton Protocol project and is one of the few Crypto Assets that has shown significant growth today.

In the past 24 hours, the price of NEWT Token has pumped by 85%, reaching its highest level since June 24.

Despite the trading price of NEWT reaching $0.50, multiple indicators suggest that this altcoin may not retrace its gains in the near term. On the contrary, the trading price of NEWT may continue to rise further. Here are the reasons and the potential price targets for the short and medium term.

NEWT counter-trend pump

On the 4-hour chart, NEWT has formed two consecutive bullish engulfing candles, pushing the price up to $0.50.

This marks a significant change compared to the sluggish period after the airdrop, when the Token was steadily declining.

This price trend contradicts the performance a few weeks after the airdrop and release, leading to a significant adjustment.

By carefully observing the chart, it can be found that the altcoin must break through the symmetrical triangle to reach this height.

During the price pump of the NEWT Token, analysis observed that the Awesome Oscillator (AO) formed a higher green histogram bar.

In addition, the Bollinger Bands (BB) measuring volatility have expanded. This expansion indicates that the volatility of the altcoin has intensified, which may lead to rapid price fluctuations.

Therefore, if the bulls continue to dominate and the Bollinger Bands fail to contract, then the price of NEWT may accelerate its upward trend.

(Source: Trading View)

The number of participants has surged, and trading volume has increased accordingly

In addition to the technical prospects, Santiment's data shows that the trading volume of NEWT has soared to nearly 900 million dollars, indicating that capital is shifting towards altcoins.

At the same time, the number of active addresses reached a historical high of 12,000 in 24 hours. This is a key indicator of the increasing network participation and user activity.

When trading volume and active wallets soar at the same time, prices will begin to rise significantly, especially for low market cap assets.

If this continues, the surge in participation may bring more pump space for the NEWT Token.

(Source: Santiment)

NEWT target price is $0.82 historical new high

Similar to the 4-hour analysis, the 2-hour NEWT/USD chart presents a bullish outlook.

The Moving Average Convergence Divergence (MACD) indicator is still in the positive zone.

In addition, the MACD supported by the Exponential Moving Average (EMA) has formed a bullish crossover.

This crossover indicates that the price of NEWT may rise above the highest wick point of 0.55 USD.

If this happens, the next target for the Crypto Assets may soar to $0.62 and possibly pave the way for a rise to $0.82.

However, if selling pressure occurs, the NEWT Token may find it difficult to reach these targets. In this case, its value could drop to 0.42 dollars.

(Source: Trading View)