The NEAR Protocol price began the month on a strong note, rallying more than 35% to briefly reclaim the $3 mark. However, the bullish momentum faded near the crucial resistance zone between $3.09 and $3.21, triggering a sharp correction that dragged the token back below $2. NEAR price is now approaching a pivotal support zone between $1.77 and $1.88, a range that could determine its next major move. If bulls fail to defend this level, the ongoing downtrend could accelerate, opening the door for a deeper correction of more than 40% in the coming weeks.
The price has printed massive bearish candles and has reached the neckline of the double top pattern, which is currently defended by the bulls. The volume has exploded massively in the past few days, hinting towards intensified traders’ activity. This suggests that the selling pressure may continue to prevail for a while, keeping bearish prospects alive.
The Chaikin Money Flow (CMF) has slipped below the zero line, indicating capital is beginning to flow out of the asset as market sentiment weakens. Besides, the Supertrend has just flipped bearish, validating the rise of bearish influence over the token.
For now, the support zone between $1.77 and $1.88 remains the most important level to watch. A successful defense could trigger a relief bounce toward $2.30 and eventually $2.80. However, a breakdown below this range may invalidate the recent recovery structure and expose the NEAR Protocol price to a deeper correction toward $1.20, with the historical support near $0.97 emerging as the next major downside target.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Analysts have previously argued that XRP needs to reach at least $10 to deliver the…
XRP briefly touched $1.00 on Thursday before bouncing back, and the crypto community is as…
Michael Saylor and Strategy have become inseparable from the Bitcoin narrative. With holdings exceeding 847,000…
The broader crypto market remains under heavy selling pressure as risk assets continue to struggle…
The broader crypto market remains under intense pressure as a tech-led global sell-off continues to…
Today’s Memecore incident is a stark reminder that leverage works both ways, and this time,…
