NEAR Protocol Surges 5% After Bullish Support Formation

Date: June 6, 2025

NEAR Protocol showed resilience on Thursday, recovering from a 5.2% drop and establishing strong support at the $2.42 level. The price action formed a bullish support pattern with rising volume, signaling potential accumulation.

A breakout above the $2.46–$2.47 resistance zone points to strong buyer interest and suggests a possible trend reversal.

Despite broader market uncertainty—partly triggered by tensions between U.S. President Donald Trump and Tesla CEO Elon Musk—NEAR’s recovery reflects growing confidence in blockchain projects with real-world utility.

Technical Highlights:

Volatility Range: $2.415 (low) to $2.547 (high), a 5.2% swing.

Support: Firmly established at $2.42, with increasing buy volume on the second test—hinting at a double bottom.

Resistance: At $2.462–$2.470; a break above this zone may confirm a bullish trend.

Recent Momentum: NEAR climbed from $2.433 to $2.455 (0.9% gain) with volume spikes at 07:15 (206K) and 07:37 (120K).

Short-Term Pattern: Uptrend forming, supported by volume-based recovery and consolidation near $2.455.

NEAR’s steady rebound could be a sign of institutional accumulation and renewed interest in infrastructure-driven blockchain assets.