NEAR Protocol (NEAR) surged 8% in the past 24 hours, breaking through multiple resistance zones and hitting the $3.03 mark. The move comes amid growing institutional inflows and accelerating network adoption, fueling optimism for further gains despite short-term volatility.
NEAR’s latest rally began after a sharp rebound from the $2.35–$2.40 support zone, a level that has repeatedly acted as a strong base since early July. The price quickly advanced, reclaiming the $2.80 resistance before pushing through the psychological $3.00 barrier.
The 4-hour chart highlights a prior rising wedge pattern, which initially resulted in a pullback late last month. However, strong buyer momentum has erased those losses, positioning NEAR back at the upper supply zone around $3.05–$3.10.
Analysts view the $3.05–$3.10 region as the immediate resistance, with a decisive breakout potentially opening the path toward $3.30. “The structure remains constructive as long as NEAR holds above $2.80. A close above $3.10 would confirm a shift in momentum toward a more extended bullish run,” According to BITX market strategist explained.
On the downside, $2.80 now acts as a near-term support, followed by the $2.40 demand zone in case of a deeper retracement.
Institutional and On-Chain Growth
Market sentiment around NEAR has improved in recent weeks, supported by data showing an increase in both institutional capital inflows and active user growth on the network. These factors have historically coincided with sustained bullish phases for the asset.
With NEAR Protocol reclaiming the $3.00 level and holding momentum despite recent volatility, traders are watching for a breakout above $3.10 that could extend the rally toward new local highs. Strong fundamentals and technical support levels suggest the uptrend could remain intact heading into the next trading sessions.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.