Price Analysis

Near Protocol Bulls Aims 20% Gains Amid This Bullish Formation

Near Protocol today showed bullish momentum.
Published by
Near Protocol Bulls Aims 20% Gains Amid This Bullish Formation

Near Protocol today showed bullish momentum. The bulls attempted to cross above Tuesday’s high of $4.53. NEAR has been trading in the green for the past few hours. A double-top structure near $4.53 asks for the wait-and-watch approach. Although the bias remains positive.

  • Near Protocol trades on a higher note on Thursday.
  • A decisive break above $4.53 could fuel further upside in the price.
  • Critical support remains around $4.30.
Advertisement

Near Protocol price looks further upside

Source: Trading view

  On the weekly chart Near Protocol formed a “Bullish Bat Harmonic” pattern. In a bullish Bat pattern, however, the second top is lower than the first one. In addition, it combines Fibonacci with Elliott’s waves theory, and some new ratios like 88.6% are used. This pattern is a confirmation of the continuation of the prevailing trend. 

As can be seen on the chart, the price starts to make a higher low formation & started to go higher after taking a retracement of 61.8% Fibonacci level of an impulse move from ($2.38) to ($6.11). 

The price fulfills its one characteristic out of two for the price to move uptrend. Near Protocol, bulls start to make higher lows, which is a good sign for a possible bullish reversal. If the price breaks its recent swing high and makes a higher high as well, then NEAR will start its journey on an uptrend. 

Source: Trading view

Near Protocol price on the daily chart is trading in a “Rising Channel”, making higher highs and higher lows, showing signs of bullishness.

Other than that, the price even formed another reversal pattern. The price formed an inverted “Head & Shoulder” pattern. If the price is able to break above its neckline ($4.56), along with another resistance of the 50-day exponential moving average. Then we can expect a price to test its previous swing high and even break above that level. 

Also read: http://Crypto Rally: Bitcoin, Altcoins Bounce Back, How High Can They Go

The nearest support is ($4.30), whereas the most immediate resistance is around ($4.60). There is a higher probability of the price breaking its resistance. But, if any chance price tends to come close to its support, and we’ve seen any rejection there with rising volumes, then we can buy there as well the “Buy on dips” opportunity.

On the other hand, a break below the $4.30level could upset the bullish setup. In that case, the price could drop toward $3.80

Near Protocol is slightly bullish on all time frames. Above  $4.56  closing on the hourly time frame, we can put a trade on the buy side. 

Advertisement

Share
Rekha chauhan

Rekha has started as Forex market analyst. Analyzing fundamental news and its impact on the market movement. Later on, develop an interest in the fascinating world of cryptocurrency. Tracking the market using technical aspects.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Price Analysis

Pepe Coin Price Bounce Likely as Support Zone Aligns With Rising Social Activity

The PEPE Coin price has returned to a crucial demand zone after a sharp decline,…

September 27, 2025
  • Price Analysis

Solana Price Set for Recovery Amid Wyckoff Accumulation and Canary Capital ETF Filing

The Solana price narrative continues to gain traction as market voices highlight both technical accumulation…

September 26, 2025
  • Price Analysis

Avalanche Price Could Surge to $50 as Transactions Jump 200%

Avalanche price has sunk into a correction after falling by 16% from its highest point…

September 26, 2025
  • Price Analysis

CHMPZ Price Prediction:Will This Net-Zero Community Token be the Next Gem?

Chimpee, the project behind the hyped CHMPZ tokens, combines the best of both worlds. It…

September 26, 2025
  • Price Analysis

Ethereum (ETH) Price Set for a rebound as Whales Accumulate $1.6B ETH and Outflows Hit $622M

Ethereum price is showing signs of resilience after recent turbulence, with renewed attention on whale…

September 26, 2025
  • Price Analysis

HYPE Price Prediction As Bitwise Files For Hyperliquid ETF – Is $55 In Sight?

The HYPE price outlook has gained attention after a market analyst, Ali Charts, remarked that…

September 26, 2025