Market eyes $2.50 zone as potential turning point for NEAR/USDT
The cryptocurrency NEAR Protocol (NEAR/USDT) has entered a critical stage, trading around $2.67 after a period of sharp declines from the $3.30 peak earlier this month. The chart highlights an important battle between buyers and sellers, with attention now shifting to the $2.50 support zone, marked in green.
The recent pullback follows a rally that saw NEAR climb from below $2.00 into the $3.30 range before encountering strong resistance at $3.10–$3.30. This red zone acted as a ceiling, forcing the price into a downward correction.
Currently, NEAR is consolidating above the $2.50 demand area, a level that has historically attracted buyers. If bulls defend this zone, a rebound toward $2.90 and $3.10 resistance could be expected. Conversely, a break below $2.50 may open the door for deeper losses toward the $2.30–$2.20 range, shown in orange on the chart.
“The $2.50 region is a make-or-break level for NEAR. Holding above it could reestablish bullish momentum, but a clear breakdown risks dragging the token into a longer consolidation phase,” explained BITX market analyst reviewing the structure.
Trading volume has remained steady, with nearly 1 million NEAR tokens exchanged, suggesting that the current level is attracting significant interest. Analysts note that while short-term sentiment appears cautious, broader market conditions will play a crucial role in NEAR’s next move.
“This is a textbook retest of support. If bulls want to remain in control, they need to step in at this level. Failure to do so would signal that bears are gaining dominance,” According to BITX strategists.
The next sessions are likely to determine the near-term direction of NEAR’s price. A successful defense of $2.50 support could provide the springboard for another attempt at reclaiming the $3.00 region. However, continued weakness may confirm a bearish shift, pressuring the asset closer to summer lows.
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.