NEAR Price Bounces at $2.40, Testing Higher Resistance Zones
NEAR Protocol (NEAR/USDT) has staged a sharp rebound after defending a crucial support zone near $2.40, lifting prices back toward the $2.70–$2.80 range. The move highlights how buyers continue to step in at key demand levels, even as the broader crypto market consolidates.
After weeks of volatility, NEAR retested the $2.30–$2.40 support area, where demand historically provided a strong floor for price action. As shown on the 4-hour chart, bulls quickly regained momentum, pushing the token higher by more than 20% in recent sessions.
The rally follows a steep pullback from July’s highs above $3.00, where NEAR faced heavy selling pressure. The correction carved out a rising wedge breakdown, leading to a retest of demand before the current rebound.
Key Support and Resistance Levels
Traders are now watching the following levels closely:
- Immediate Support: $2.60–$2.70 zone, where buyers are defending intraday dips.
- Major Support: $2.30–$2.40 demand region, which triggered the latest bounce.
- Immediate Resistance: $2.90–$3.00, where multiple rejections capped rallies.
- Extended Resistance: $3.10+, the level that must break to signal a bullish continuation.
If NEAR fails to sustain above $2.70, analysts caution that another retest of the $2.40 demand area is possible. On the flip side, a strong close above $3.00 could open the path toward $3.20 and higher targets.
Technical analysts suggest NEAR remains in a range-bound phase, but the defense of $2.40 shows strong accumulation.
“As long as $2.40 holds, bulls maintain the advantage. A breakout above $3.00 would confirm renewed momentum,” According to BITX .
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.