NEAR Protocol

bullish

Token

Momentum

<ul>
 <li>NEAR shows potential breakout, aiming for a $6 price target.</li>  
 <li>Support at $3.49 and resistance around $4.28 are key levels to watch.</li>  
 <li>Bullish signals and technical patterns suggest upward momentum if NEAR breaks resistance.</li> 
</ul>  
<a href="https://cryptonewsland.com/50-near-price-top-expected-this-bull-run/" target="_blank" rel="noopener noreferrer nofollow">NEAR Protocol (NEAR)</a> is showing signs of a potential breakout amid a fresh bull cycle. The token has been stuck in a downward channel for a while. With the market showing bullish signals, NEAR's technical patterns hint at a possible rise to $6 if it can break its resistance.  
<h2 class="wp-block-heading" id="h-channel-breakout-attempts-by-near-token">Channel Breakout Attempts by NEAR Token</h2>  
The daily chart reveals NEAR in a prolonged descending channel, marked by lower highs and a strong resistance trendline. This <a href="https://cryptonewsland.com/near-approaching-crucial-resistance-pump-likely/" target="_blank" rel="noopener noreferrer nofollow">bearish pattern</a> has kept NEAR in a downtrend.&nbsp;  
However, support at $3.49 is holding firm and could trigger a breakout if NEAR surpasses the resistance. Recently, NEAR struggled to break the resistance, dropping 2.26% from $4.28 to $4.19.&nbsp;  
This decline continued, leading to a 9.54% drop over three days. Despite this, NEAR rebounded with an intraday gain of 3.84%, climbing back to $4.28.&nbsp;  
This recovery created a bullish engulfing candle, suggesting a potential bullish shift within the falling channel. The MACD indicator presents mixed signals.&nbsp;  
Although there’s a risk of a <a href="https://chartink.com/screener/macd-bearish-or-bullish-crossover" target="_blank" rel="noopener noreferrer nofollow">bearish crossover</a>, the recent gain hints at possible upward momentum. The RSI is also rising, now at 48.14, showing strength as it nears the halfway mark.  
<h2 class="wp-block-heading" id="h-bullish-targets-for-near-protocol">Bullish Targets For NEAR Protocol</h2>  
NEAR’s momentum is growing as it nears the critical support level of $3.49. This increase in trend momentum boosts the chances of a breakout.&nbsp;  
Fibonacci levels point to key resistance at $4.62 and $5.32, corresponding to the 23.60% and 38.20% retracement levels. Reaching these levels could mean a 32% gain.  
In the short term, <a href="https://coinmarketcap.com/currencies/near-protocol/" target="_blank" rel="noopener noreferrer nofollow">NEAR</a> needs to break the $4.28 resistance and maintain its position above $3.49. If the bullish trend continues, the price of the token could surge to $6. 
The post <a href="https://cryptonewsland.com/near-eyes-6-with-bullish-breakout/" rel="noopener noreferrer nofollow">NEAR’s Path to $6 Hasten as Fresh Bullish Momentum Signals a Potential Breakout</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

NEAR’s Path to $6 Hasten as Fresh Bullish Momentum Signals a Potential Breakout

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