NEAR/USDT shows strong rebound, but sellers remain active near $2.80
NEAR Protocol’s price has staged a sharp recovery, currently trading around $2.66, after finding strong demand near the $2.35 support zone. Over the past 24 hours, NEAR has surged nearly 29%, signaling renewed buying interest in the market.
The 4-hour chart indicates that NEAR recently broke out of a descending structure, bouncing strongly from the demand zone between $2.30 and $2.40, which has historically acted as a significant support level. However, analysts warn that the $2.80 to $2.90 zone remains a major resistance, and failure to break above could lead to another short-term pullback.
“This rebound looks strong, but the real test lies at $2.80, where sellers have previously dominated. If NEAR closes above that level, it could open the path toward $3.20,” According to BITX market analyst.
Volume analysis shows a notable spike during the latest rally, suggesting strong participation from buyers. Still, traders should watch for bearish reactions near the resistance zone, as the price has previously failed multiple times in this region.
Key support levels to watch include $2.40 and $2.30, while the upside targets remain $2.80 and $3.20 if bullish momentum continues.
Experts also highlight that NEAR’s broader trend remains uncertain, with the asset trading below the previous rising channel observed in July. Breaking above $2.80 convincingly would signal a possible trend reversal.
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.