NEAR Protocol is exhibiting strong bullish signals as it rebounds from key support levels, with technical analysis pointing to potential major breakouts. The token has stabilized around the $2.50 support zone, where sustained buying activity indicates robust demand and renewed market confidence. Analysts highlight a long-term symmetrical triangle pattern, with a confirmed breakout above $5 potentially driving prices toward $7.7, $16.7, and even $50 in future cycles.
In the short term, NEAR surged from the $1.90–$2.00 area to $2.75, supported by a 33% intraday price increase and rising trading volume. The token is now testing the critical $3.2 resistance level, and a successful breach could pave the way for targets in the $3.8–$4.0 range. However, a drop below $2.45 might lead to a correction toward $2.00–$2.20.
Market metrics underscore the bullish sentiment, with NEAR's weekly trading volume hitting a record $626 million and its market capitalization reaching $3.88 billion. Data from CryptoQuant reveals significant whale accumulation and buyer dominance in derivatives markets, reinforcing the positive outlook. Ecosystem developments, including DeFi integrations and partnerships like the recent Thorwallet integration, are fueling investor interest and contributing to the token's momentum.
