NEAR Protocol Eyes Critical Resistance: Breakout or Pullback?
As NEAR Protocol (NEAR/USDT) continues its bullish ascent, NEAR approaches a crucial resistance level at $8.443.
Support Levels:
$4.944: A significant support level that has been tested multiple times, acting as a strong floor during the recent uptrend.
$2.714: Another support level that was respected during the downtrend and recovery phase.
$0.997: This level marks the lowest point on the chart, providing a major long-term support.
Resistance Levels:
$8.443: The current price is approaching this resistance level, which aligns with previous peaks and consolidations.
$17.024: A historical high that could act as a strong resistance if the price continues to rise.
Potential Scenarios:
Bullish Case: If the price breaks above the $8.443 resistance, it could target higher resistance levels, potentially moving towards $13.00 and then $17.024.
Bearish Case: If the price fails to break the $8.443 resistance and reverses, it might retest lower support levels like $4.944 or even $2.714.
Support Levels:
$4.944: A significant support level that has been tested multiple times, acting as a strong floor during the recent uptrend.
$2.714: Another support level that was respected during the downtrend and recovery phase.
$0.997: This level marks the lowest point on the chart, providing a major long-term support.
Resistance Levels:
$8.443: The current price is approaching this resistance level, which aligns with previous peaks and consolidations.
$17.024: A historical high that could act as a strong resistance if the price continues to rise.
Potential Scenarios:
Bullish Case: If the price breaks above the $8.443 resistance, it could target higher resistance levels, potentially moving towards $13.00 and then $17.024.
Bearish Case: If the price fails to break the $8.443 resistance and reverses, it might retest lower support levels like $4.944 or even $2.714.