This Chart Pattern on Near Protocol (NEAR) Could Trigger a 30% Rally – Here’s The Key Level To Watch
NEAR Protocol is starting to turn heads as traders watch a key level that could ignite a short-term rally. Crypto analyst Sjuul from AltCryptoGems shared on X that NEAR price is approaching a spot on the chart where two major resistance lines meet; one horizontal, the other descending. It’s the kind of setup that could decide where the price heads next. What makes this even more interesting is the double bottom pattern showing up on the 12H chart, which is often seen as a signal that a trend might be about to reverse.
Looking closer, NEAR formed its double bottom around the $2.00 zone. After bouncing off that level twice, the Near Protocol price pushed toward the neckline between $2.35 and $2.40. It has now managed to break slightly above that range, turning it into a new support area. That’s a classic bullish confirmation, one that traders often look for before a bigger move kicks in.
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There’s also a descending trendline from earlier highs crossing through the same price zone. That overlap makes $2.35–$2.40 a big deal for both sides of the market. If NEAR price holds above it, it could mean the downtrend is fading, and a new upward move might already be underway.
Near Protocol Price Levels to Watch Moving Forward
With the neckline and trendline both broken, the next resistance level sits between $2.80 and $3.00. This area corresponds to the previous high before the recent decline. If momentum builds and the price holds above $2.40, traders could view the next leg upward as a continuation of the double bottom breakout.
Support remains at $2.35–$2.40, which may act as a foundation for future bullish activity. If that support fails, the psychological level at $2.00 would be the next area to monitor. For now, the setup favors buyers, assuming volume remains steady.
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Furthermore, Sjuul called attention to the ongoing setup in his tweet. He noted the confluence of both horizontal and diagonal resistance, emphasizing the technical weight of the current zone. His message, “time to pay attention”, reflected a broader sentiment among traders expecting confirmation before taking positions.
The combination of a double bottom, a resistance break, and a key support retest presents a structured setup. While market sentiment remains mixed across the broader space, technical conditions on NEAR price suggest that a larger move could be forming if current levels hold.
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