NEAR Protocol’s Resistance at $5.57 and $7.04: Will Buyers Step In?

• NEAR sustains support between $2.55 and $3.54, preventing further declines despite market fluctuations.
• Resistance levels at $5.57 and $7.04 indicate potential upward movement toward $8.24 if demand increases.
• Volume spikes align with price shifts, suggesting growing market activity and a possible trend reversal.

NEAR Protocol has maintained a solid support level, positioning itself for potential movement if market conditions shift. Recent observations indicate that $NEAR could respond sharply with minimal market changes, signaling a possible increase in activity.

NEAR Protocol Holds Firm at Key Support

NEAR has established a firm support level, preventing further declines despite fluctuations in the broader market. This stability suggests that the asset is holding ground, waiting for a market shift to trigger movement.

Analysts tracking its price action note that even minor changes in market trends could drive significant movement. Market analysis indicates that a bullish flag breakout occurred in November, leading to a price surge.

Source: Lucky (X)

A falling wedge followed, pushing the price downward. The asset is now at a key support area between $2.55 and $3.54. A potential upward movement toward $8.24 is projected. Resistance levels are marked at $5.57 and $7.04. The market structure indicates a shift from a downtrend to a possible uptrend.

Current Market Movements

With market conditions showing signs of potential movement, NEAR remains a key asset to monitor. A small shift in sentiment or trading volume could lead to increased buying activity. Observers note that a breakout could follow if the asset maintains its current support level and sees increased demand.

Tracking the current market movement, Coinglass data indicates that NEAR’s price experienced notable surges, particularly between late February and March, followed by a peak in late July. The highest volume spikes coincided with significant price movements, indicating increased trading activity.

Source: Coinglass

At the time of press, NEAR traded at $2.88 with a volume of $204.95 million. Previous months displayed substantial volatility, with price swings between $2 and $9. The market recorded a notable increase in volume during bullish trends, while lower volumes followed price declines.

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