Technical indicators highlight consolidation phase after sharp retracement
NEAR Protocol (NEAR) is showing signs of stabilization after a volatile few weeks in which prices surged above $3 before retreating. At the time of writing, NEAR trades around $2.48, hovering just below a short-term resistance zone at $2.55.
The chart indicates that $2.45–$2.47 has emerged as an important support range. Buyers have stepped in here multiple times, preventing a deeper breakdown. Beneath that, the next significant cushion lies closer to $2.25–$2.30, an area where demand previously sparked a strong recovery.
“If NEAR continues to hold above $2.45, the market could attempt another push toward $2.60 and beyond. A failure, however, could trigger a drop back toward $2.30, where stronger buying interest is likely to appear,” According to BITX market analyst .
On the upside, resistance remains firm near $2.55 and $2.75, where sellers previously regained control. The chart also shows a heavier supply zone around the $3 mark, which will likely be the toughest barrier for bulls to reclaim in the near term.
Volume indicators suggest that momentum has slowed compared to July’s steep rally, signaling a consolidation phase rather than a full reversal.
The recent price action followed a sharp ascending channel breakout in July, which drove NEAR to multi-month highs. However, the retracement since then has shifted sentiment into cautious territory.
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.