NEAR rallies toward $3.00 with strong momentum, but faces heavy selling pressure ahead
NEAR Protocol (NEAR) surged over 7%, pushing its price close to the $2.92–$3.00 mark, as bullish momentum drove the token into a crucial resistance zone. The rally reflects improving sentiment in altcoins ahead of the upcoming Federal Reserve decision, with traders closely watching whether NEAR can break above its recent supply levels.
The chart shows NEAR breaking higher from the $2.60–$2.70 support area, where buying demand repeatedly cushioned declines earlier this month. From that base, the token rallied sharply, reclaiming the $2.80 pivot and moving into a resistance band around $2.90–$3.00, marked by multiple rejection points in August and September.
“This is a critical area for NEAR bulls. A daily close above $3.00 could open the door to $3.20 or higher,” According to BITX market analysts. “However, if sellers step in again, we could see a pullback toward $2.70.”
The green zones on the chart highlight strong buyer interest, while the red supply areas near $3.00–$3.20 represent heavy selling pressure that previously capped rallies.
The move comes as broader crypto markets stabilize, with Bitcoin trading above $117,000 and Ethereum reclaiming ground above $2,400. Altcoins like NEAR are benefiting from renewed investor appetite for higher-beta assets, especially as liquidity expectations improve.
“Investors are positioning for a potentially more dovish Federal Reserve,” BITX strategist noted. “That’s why we’re seeing capital rotate into altcoins like NEAR, which tend to outperform during risk-on phases.”
If NEAR successfully breaks above $3.00, analysts expect momentum could carry it toward $3.20–$3.25, the next major resistance. On the downside, $2.70 remains the key support to watch, with a deeper correction risking a return to the $2.40 demand zone.
Overall, NEAR’s latest 7% surge underscores strengthening bullish sentiment, but traders caution that the coming sessions will be decisive in determining whether this rally marks the start of a sustained breakout or another rejection at the $3.00 barrier.
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.