NEAR Protocol saw a strong recovery in the past 24 hours, gaining 6.9% from $2.61 to $2.79, as institutional accumulation fueled a breakout rally. This comes after a sharp overnight selloff, signaling renewed bullish momentum in the short term.
Volume Surge Signals Institutional Interest
NEAR’s rebound began late Thursday with a sharp move from $2.77 back to $2.79 within one hour. This 0.7% recovery during a volatile trading session was accompanied by an exceptional volume spike, with over 123,000 tokens traded in the final hour.
This high-volume move broke key resistance levels, confirming strong buyer interest and hinting at a new accumulation phase.
Technical Breakout Points to Higher Targets
The $2.61 support zone held firm, validating it as a key price floor. From there, NEAR gained momentum, with a recovery stretch from $2.69 to $2.79, closing the session just below the next resistance level at $2.83.
Multiple resistance levels were broken, marking $2.79 as a new local high for this session.
NEAR traded within an 8.5% range, from $2.61 lows to $2.83 potential highs, offering traders a clear short-term setup. A successful retest and break of the $2.83 resistance could open the door to new price territory.
Future Outlook: Cross-Chain Growth Drives Sentiment
NEAR’s long-term outlook remains bullish, with analysts projecting a range between $1.95 and $9.00 for 2025, depending on broader market sentiment. The development of cross-chain bridges with Solana and TON is seen as a major catalyst for future growth.
Price projections for 2030 reach as high as $71.78, driven by scalability, ecosystem adoption, and institutional traction.
NEAR Back in Bullish Territory
After a brief mid-session dip, NEAR’s swift recovery confirms strong buyer support, particularly among institutional players. As volume continues to climb and technical levels align with momentum, the token appears well-positioned to test and possibly break the $2.83 resistance.
NEAR’s rebound marks a potential shift in trend, setting the stage for further gains if bullish volume persists.
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.