#AltcoinBreakout

NEAR Protocol price eyes $5 target on breakout above $3.40.

NEAR price is gaining steam with a 17% weekly rally as it eyes $5 target based on a bullish pattern.

NEAR Protocol price is up 10% in the past 24 hours and 17% over the past week, currently trading at $3 as the price extends its recovery from the $1.80 low hit around June 25.

That $1.80 low ended a steep downtrend that began in mid-May and also marked the second low of a huge double bottom pattern, with the first one formed in early April and a neckline established around $3.40, marking the next major resistance.

NEAR price is steadily approaching this resistance, supported by strong bullish momentum. NEAR has remained above the 20-day EMA throughout July, with daily candles growing longer, indicating building buying pressure.

Before testing the $3.40 neckline resistance, NEAR price faces a minor hurdle at $3.20, a previous swing high from within the recent downtrend. If the price breaks above $3.40, it would confirm the double bottom pattern and suggest a potential target around $5.00, based on the measured move. On the downside, the key support now sits at $2.70, a former resistance level.#Write2Earn #USCryptoWeek #MemecoinSentiment #BTCWhaleTracker $BTC $ETH $NEAR