Altcoin slips below $2.70 while traders watch demand zones for potential rebound
The price of NEAR Protocol (NEAR/USDT) saw a sharp pullback in the latest session, falling nearly 6% to trade around $2.65. The decline has placed the token just above a crucial support region, with traders now assessing whether buying pressure will emerge to stabilize the move.
The chart shows NEAR failing to sustain momentum above the $3.00 resistance zone, which has acted as a ceiling in recent weeks. After multiple attempts to reclaim higher ground, the token faced strong selling pressure and is now consolidating near the $2.60–$2.65 range.
Below this level, a deeper correction could test the green demand zone around $2.45, while a breakdown may expose the stronger support near $2.30. On the upside, the immediate resistance sits near $2.80, followed by the broader supply zone closer to $3.10.
“The rejection at $3.00 shows sellers are firmly in control for now, but the structure still holds as long as the $2.40 level remains intact,” said BITX technical analyst, highlighting the importance of the upcoming sessions.
Despite the decline, trading volumes remain relatively stable, suggesting the move may be more of a technical retracement rather than panic selling. Analysts note that NEAR has often bounced strongly from oversold zones, making the current levels critical for short-term positioning.
“What we’re seeing is a healthy correction after an extended push, and unless $2.30 breaks, the medium-term outlook remains constructive,” According to BITX strategists.
For now, NEAR’s price action reflects broader market uncertainty, with altcoins facing resistance after recent rallies. Maintaining support above $2.45–$2.50 will be essential for avoiding a deeper downturn. A rebound from current levels could put the $2.90–$3.00 region back in play.
The next few days will likely determine whether NEAR can regain momentum or if further downside pressure emerges. Key support levels remain the focal point for traders watching this move.
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.