Near Protocol (NEAR) Price Action Signals a Potential Breakout – Here’s What the Charts Show
NEAR’s price is up 12.80% to $3.20 right now. Traders are watching key levels for a possible breakout. Market sentiment has been largely influenced by chart structures and analysis from crypto experts, with some suggesting a shift toward a bullish trend.
On X (formerly Twitter), the discussion surrounding NEAR remains active. Veteran analyst Crypto Bullet emphasized that NEAR’s price is still holding above a key horizontal support zone, raising speculation about a potential upward move. Another trader, Coinvo, took a more confident stance, stating that NEAR is “only going up from here,” signaling strong bullish sentiment.
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What you'll learn 👉
Near Protocol Historical Price Movements and Support Zones
The token saw a big rise in late 2021 and early 2022, reaching over $20. Then it dropped throughout 2022. From late 2022 to early 2023, the price stayed flat before starting to recover.
The $1.20-$1.50 area has been strong support, with the price bouncing from this zone several times. On the upside, resistance remains around the $4 and $8 levels, which previously acted as turning points. Analysts note that NEAR’s price is positioned just above support, leaving room for either a breakout or further consolidation.
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NEAR Breakout Confirmation and Resistance Levels
A descending channel structure has been evident in NEAR’s price action, with multiple touches on both support and resistance trendlines. Now NEAR seems to be breaking out of its downward pattern. The $3.50-$4 level is important – staying above this could mean more upward movement.
If NEAR keeps going up, the next resistance could be around $6, or possibly as high as $15-$20. A retest of previous resistance-turned-support is also possible before the price advances further.
NEAR Market Sentiment and Next Potential Moves
Traders have different views. Some want more proof of the breakout, while others think it will keep rising now. The price looks ready for a big move, with certain levels acting as triggers.
Whether Near Protocol’s price keeps rising or gets stopped at higher resistance depends on the overall market and continued buying. For now, traders are watching if it can stay above support as it reaches a turning point.
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