Technical Analysis Shows Recovery Momentum
The price of NEAR Protocol (NEAR/USDT) gained over 5% in the past 24 hours, sparking optimism that buyers may be preparing for a stronger breakout. After months of sideways trading, NEAR is now testing levels that could determine whether the token resumes a broader bullish trend.
Currently trading near $2.95, NEAR has broken free from its earlier descending channel that dominated the market between January and April 2025. The breakout led to a consolidation phase, with price action now hovering between support at $2.40–$2.50 and resistance around $3.50–$3.60.
BITX Analysts point out that the $2.40 zone has held as a reliable accumulation area in recent months. A sustained close above $3.00 could strengthen bullish conviction and potentially pave the way toward the $3.60 resistance, last tested in late August.
“NEAR is building a base above its support range, and the repeated attempts at breaking higher indicate growing buyer strength,” said one of BITX market strategist. “The real test will come if the token approaches the $3.50–$3.60 region, which has capped rallies before.”
Trading volume has picked up alongside the price move, suggesting that market participants are becoming more engaged. This aligns with a broader trend across altcoins, where selective tokens are beginning to outperform as Bitcoin dominance declines.
If NEAR fails to maintain momentum, however, analysts warn that the token could revisit its $2.40 support zone, a level that has provided multiple rebounds since June.
The latest 5% surge highlights renewed investor interest, but the market remains at a crossroads. A clean break above $3.60 resistance could signal the start of a stronger recovery phase, while rejection may keep NEAR locked in its current range.
As traders monitor these critical levels, NEAR’s price action over the coming weeks will be pivotal in shaping its next market cycle.
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.