The cryptocurrency market is experiencing a resurgence, with Bitcoin and Ethereum seeing significant price increases. This positive momentum is driving bullish trends across various altcoins, and Near Protocol (NEAR) is among the leading contenders for a major breakout. 📈
NEAR’s impressive performance this week has seen it climb by over 15%, fueled by a strong bullish pattern on its technical chart.
On the daily chart, NEAR showcases signs of a rounding bottom formation. This common reversal structure often forms after prolonged downturns, indicating a shift from accumulation to renewed buying activity.
The forming pattern began earlier this year when NEAR encountered resistance near $3.37 in February 2025, leading to a sharp correction down to $1.80. This was followed by a period of higher lows, signifying the beginning of a smooth, curved structure characteristic of a rounding bottom.
NEAR currently hovers around $3.09 and is testing its neckline resistance between $3.06 and $3.37. This key level will determine whether a new bullish phase begins.
What’s Next for NEAR?
If bulls manage to push NEAR decisively above the $3.37 neckline, it would confirm a breakout from the rounding bottom pattern, potentially leading to a surge toward initial upside targets near $4.85 and extending further towards $6.13 — representing an impressive potential gain of 51%.
However, temporary volatility is likely in store as NEAR navigates this critical period. A minor pullback to the $2.40–$2.60 support zone before a confirmed breakout would not be uncommon, especially if the neckline resistance momentarily holds.
Near Protocol’s current price structure suggests a decisive move is on the horizon. If buyers seize control, it could mark the start of a new bullish cycle for Near Protocol.
Disclaimer: This article is purely informational and should not be considered financial advice. Always conduct your own research before making any investment decisions.
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