based on materials from the site - By CoinsProbe
The cryptocurrency market is showing signs of a slight recovery after a recent sharp drop: Ethereum (ETH) bounced back to about $3700 from a recent low of $3357. Following this, several altcoins, including Near Protocol (NEAR), joined the rebound.
Today NEAR turned green, and its chart now shows a forming fractal pattern very similar to the recent bullish structure observed in Mantle (MNT), hinting at potential growth.
A closer look at the daily charts of Mantle (MNT) and NEAR reveals a forming fractal pattern, with NEAR now following the same bullish trajectory recently completed by MNT.
In the case of MNT, the token broke out of a descending wedge, retraced, and formed a bearish harmonic model ABCD. After a strong bounce from point C, MNT reclaimed both the 100-day and 200-day moving averages and rose nearly 40% to point D.
NEAR seems to be following the same technical pattern.
After breaking out of the descending wedge, NEAR formed a similar harmonic structure ABCD. Recently it bounced off point C at the $2.30 level and is now testing resistance at the 100-day moving average, which is currently at $2.53.
What awaits NEAR next?
If this fractal continues to develop similarly to MNT, a confirmed breakout above the 100-day moving average could trigger a move to the potential reversal zone (PRZ) around $3.28, representing a growth potential of 31% from current levels.
However, to maintain this bullish outlook, NEAR must stay above the support level at point C at $2.30. A drop below this level could invalidate the pattern and halt further growth.
$BTC, $XRP, $BNB
#Cryptomarketnews, #TrumpTariffs
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