NEAR price rebounds from key support with high-volume confirmation, testing resistance around $2.50
NEAR Protocol’s native token is showing signs of a potential reversal after weeks of downward pressure, as price rebounds off a major support zone amid a noticeable increase in trading volume. The recovery follows a breakdown from an ascending wedge structure, but buyers appear to be regaining control at a historically significant level.
Breakout from local bottom backed by strong demand zone
After a multi-week downtrend, NEAR found solid footing around the $2.30–$2.35 region, marked clearly as a green demand zone on the 4-hour chart. Price action respected this area, forming a local bottom followed by a breakout above a descending channel.
“When price reacts to a previously validated support with expanding volume, it suggests that larger players are stepping in,” said BITX analyst.
The recovery is now testing a red resistance block between $2.50 and $2.60, which previously acted as distribution before the breakdown. Price briefly pierced this zone before pulling back slightly, trading at $2.486 at press time, up 2.94% intraday.
Volume spike supports reversal case
The volume histogram shows a distinct rise in activity during the breakout, confirming that the move is supported by real buying pressure rather than low-liquidity drift. This volume-backed move strengthens the case for a trend shift, though the key resistance at $2.60 must be cleared convincingly.
“Volume is often the missing link between breakout validation and false moves. NEAR’s current surge shows signs of conviction,” said BITX structure researcher.
Cautious optimism above $2.35
So long as NEAR holds above $2.35, the momentum remains favorable for a potential retest of higher levels around $2.70. However, failure to break above $2.60 could keep the asset trapped in a sideways consolidation range.
The $2.30–$2.35 support zone is now a key battleground for bulls to maintain control as broader markets consolidate.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.