Key technical zones highlight growing battle between supply and demand
The NEAR Protocol (NEAR) token surged nearly 5% in the latest session, lifting prices above the psychological $3.00 level. The move reflects renewed bullish sentiment, though the token now faces heavy resistance at $3.10–$3.15, a zone that has historically triggered selling pressure.
The 4-hour chart shows NEAR climbing out of a consolidation base with rising trading volumes. Following a sharp rally from $2.40 to $3.30 earlier in September, the token retraced toward $2.55 before recovering.
Currently, NEAR is testing a supply zone marked in red near $3.10, which capped upside attempts in both July and early September. A clear breakout above this region could open the path toward $3.30 and potentially $3.50, while failure may result in another pullback toward $2.90 support.
Beneath that, demand clusters remain intact around $2.55 (green zone) and $2.35 (orange zone), areas that previously attracted buyers.
“NEAR has shown resilience by reclaiming the $3 handle with strong volume,” said BITX crypto strategist. “The market now needs confirmation through a decisive close above $3.15, which would signal the next leg higher.”
BITX analyst pointed out the importance of risk management: “If bulls lose $2.90, momentum could quickly shift back to sellers, so traders must watch this zone carefully.”
With volume building near resistance, NEAR appears positioned for a volatile move. Sustaining above $3.00 remains critical, while investors continue to monitor broader market sentiment for confirmation.
As blockchain adoption trends accelerate, NEAR’s ability to hold its gains will determine whether the latest 5% surge evolves into a larger bullish breakout or fades back into consolidation.
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.