NEAR falls over 3% in the past 24 hours, testing key support levels as traders watch for a potential reversal.
The price of Near Protocol (NEAR) has slipped to $2.60, reflecting a 3% decline in the last 24 hours. Despite recent gains earlier this month, the token is struggling to maintain bullish momentum, facing renewed selling pressure around resistance zones.
The chart shows NEAR breaking down from an ascending channel that fueled its rally toward the $3.10 resistance zone. After failing to clear this barrier, the token retraced, establishing a crucial support level at $2.50–$2.55, highlighted in grey.
Above, immediate resistance remains at $2.70, while stronger selling pressure is clustered between $2.90 and $3.10. On the downside, if NEAR fails to defend the $2.50 support, it could revisit the $2.30 demand zone, which previously acted as a springboard for the last rally.
“The $2.50 level is absolutely critical here. A breakdown would shift momentum back to the bears, while holding above could set the stage for another attempt at $2.70 and higher,” BITX analyst observed.
Trading volume has shown spikes during both rallies and declines, suggesting active participation from both buyers and sellers. Analysts highlight that while NEAR is still up over 20% in the past month, its short-term weakness reflects uncertainty as markets consolidate after strong upward moves.
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.