NEAR Protocol's $2.45–$2.50 support zone is a critical re-entry point, aligning with the trendline and prior resistance levels.
Price consolidation between $2.40 and $3.40 highlights the need for stronger momentum to break the $3.40 resistance barrier.
Technical analysts agree that the $2.45–$2.50 level could trigger an upward push toward $3.597 and $4.339 or risk signaling a reversal.
NEAR Protocol recently broke out of a downtrend channel, which means that its price trend may reverse. Following the breakout above $3, the asset corrected in a pullback and is now testing the critical $2.45–$2.50 zone. This zone, which also coincides with former resistance turned support, is a pivot area for re-entry and can determine which direction the asset will go next.
The January–April 2025 breakout of NEAR Protocol from its descending channel has been an important event for traders. The fact that the pullback is occurring at the $2.45–$2.50 level indicates both its structural and re-entry importance. It is also the area where the breakout trendline intersects, so it is technically more important.
Rose Premium Signals pointed to the $2.45–$2.50 zone as a pivotal opportunity for traders, citing its formation as a support cluster during consolidation in late April and early May. The breakout above this level earlier in May suggested a shift in market sentiment, with targets set at $3.597 and $4.339 based on prior resistance levels.
Source: X
The descending channel that confined price action for months was characterized by lower highs and lower lows. The breakout above this formation, accompanied by bullish candlesticks, marked a change in trajectory. The $2.45 zone remains a critical point for traders to watch, offering a possible launchpad for further gains.
Analyzing Momentum and Current Price Action
NEAR Protocol’s recent price action reflects consolidation following the move above $3. After reaching a high of $3.161, the price faced resistance and retraced to test support at $2.45–$2.50. This level now serves as a potential inflection point for further price direction.
Crypto Seth highlighted the importance of this support zone, particularly as NEAR recently flashed its first buy signal since November 2024. The rounded bottom pattern formed earlier this year in the $1.80–$2.00 range provided a foundation for the breakout. Current consolidation within the $2.40–$3.40 range underscores the need for sustained momentum to achieve higher targets.
Source: X
RSI levels are trending near neutral, with current readings suggesting fading bullish strength but no significant bearish control. For NEAR to break above immediate resistance at $3.40, stronger momentum and clearer bullish signals will be necessary.
Traders on X Discuss NEAR’s Pivotal Zone
On X (formerly Twitter), traders are actively analyzing NEAR’s recent breakout and its implications. Rose Premium Signals emphasized the $2.45–$2.50 level as critical for maintaining bullish sentiment, aligning with historical resistance and the breakout trendline. Crypto Seth, meanwhile, focused on the importance of momentum indicators and support integrity at this level.
Both perspectives converge on the idea that the $2.45–$2.50 zone is crucial for NEAR’s trajectory. A bounce from this support could push prices toward $3.597 and $4.339. However, failure to hold above this level might signal a reversal and potential downside risks.
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