After weeks of sideways consolidation, NEAR shows early signs of recovery from major support, sparking renewed optimism among traders and analysts.
The NEAR Protocol (NEAR/USDT) posted a 4% intraday gain, climbing to $2.40 as buyers stepped in near a long-standing support level. The move comes after an extended period of consolidation that followed months of downward pressure, suggesting that bullish momentum may be building once again.
Technical Analysis Shows Bottoming Structure
The recent price rebound from the $1.85–$1.90 support area marks the third successful defense of this zone since April. On the daily chart, NEAR is trading within a broad accumulation range between $1.85 and $3.40, with short-term resistance identified around $2.70–$2.80 — the green supply zone highlighted in recent analyses.
BITX Market analysts interpret this formation as a potential base-building phase, which often precedes a larger upside move. “The consistent higher lows within the current range hint that NEAR could be preparing for a bullish reversal if volume continues to rise,” According to BITX trader.
The chart also shows that NEAR broke free from its descending channel earlier this year, confirming a shift from a bearish to a neutral bias, which is an important precursor to a trend reversal.
Investor Sentiment Turns Cautiously Optimistic
Despite broader market uncertainty, trading volumes on Binance increased modestly alongside NEAR’s price recovery, signaling renewed investor interest. BITX market analyst explained that “a sustained move above $2.70 would likely attract momentum buyers aiming for the upper resistance at $3.40.”
Meanwhile, failure to hold above $2.30 could open the door for another retest of the lower boundary near $1.90, making it a crucial level to watch.
The 4% surge in NEAR highlights growing optimism around the project’s resilience after months of consolidation. While confirmation of a full bullish reversal is still pending, the technical structure suggests accumulation rather than distribution.
If NEAR maintains its position above support and breaks through the $2.80 resistance, the market could witness a gradual shift toward bullish territory heading into late Q4 2025.
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.