Bulls defend critical zone as resistance at $2.90–$3.10 looms
NEAR Protocol (NEAR/USDT) is currently trading at $2.44, consolidating above a vital support range near $2.30. The token has seen a 17% rebound from its recent lows, but traders remain cautious as it faces multiple resistance zones overhead.
The chart shows that NEAR has consistently tested the $2.30–$2.35 support zone, making it a key level for bulls to maintain control. On the upside, the first major resistance sits at $2.85–$2.90, followed by a stronger supply barrier near $3.10, where sellers have historically taken profit.
According to BITX analysts , “The $2.30 area is proving to be a strong demand zone. If NEAR loses this level, it risks sliding toward $2.10. But as long as buyers defend it, a rally toward $2.90 remains possible.”
Earlier in July, NEAR experienced a sharp upward channel breakout, pushing the price close to $3.20. However, the momentum faded, and sellers drove the token into a range-bound pattern. Trading volume has also declined, signaling reduced participation and cautious sentiment.
According to BITX strategists, “Volume confirmation will be crucial. Without a noticeable increase in buying activity, NEAR may struggle to break above resistance and could remain stuck in a sideways range.”
For now, the $2.30 support remains the market’s foundation. Holding this level may allow bulls to build momentum for another test of $2.90–$3.10 resistance. If rejected, NEAR could re-enter a consolidation phase, while a breakout above $3.10 would signal the start of a stronger bullish trend.
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.