Subhead: NEAR faces selling pressure near $2.90–$3.00 zone; traders watch support around $2.40
NEAR Protocol (NEAR) is trading at $2.60, slipping nearly 0.7% in the latest session as the token retraces from a recent push toward the $2.90–$3.00 resistance band. The move highlights the importance of supply zones that continue to cap rallies, even after weeks of steady gains.
The four-hour chart shows NEAR’s sharp rally from July lows near $1.90, where price surged through multiple resistance levels, eventually peaking close to $3.10 in early September. However, momentum faded as the token hit a cluster of overhead resistance zones between $2.80 and $3.20, marked by prior rejection points.
“NEAR has shown resilience, but the $3 level has acted like a ceiling for months,” said BITX market strategist. “Breaking that area convincingly would be a strong bullish signal, but until then, the market may need to reset.”
Current trading suggests NEAR is testing demand between $2.55 and $2.65, a region that previously acted as a breakout level earlier this month. If buyers defend this zone, analysts believe the market could attempt another leg higher. Deeper support remains around $2.35–$2.40, while stronger structural backing sits closer to $2.10.
Trading volume has declined during the recent pullback, signaling that sellers may not have overwhelming control. Still, the chart shows that repeated rejections near the upper band of resistance could weigh on sentiment if the token fails to rebound quickly.
“As long as NEAR holds above $2.40, the broader uptrend remains intact,” According to BITX analysts. “But if it loses that level, the door could open for a correction back toward $2.10.”
With broader market volatility influencing altcoins, NEAR’s ability to reclaim $2.80 will be closely watched. A successful breakout above that zone would likely strengthen bullish momentum, while continued consolidation may keep the token trading sideways through mid-September.
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.