NEAR Protocol Surges 5% After Forming Bullish Support Pattern
NEAR has shown considerable strength on Thursday, bouncing back strongly from the support level at $2.42, despite the turbulent atmosphere in the global markets.
What to know:
- NEAR rebounded from a previous 5.2% drop, building a solid support level at $2.42 and forming a promising bullish pattern with rising trade volume.
- A successful breakout past the $2.46 resistance could indicate significant interest from buyers and potentially signal a trend reversal.
- The crypto’s revival amid macroeconomic uncertainty reflects a growing belief in the utility of blockchain technology in real-world applications.
Global markets are facing intense uncertainty following a public altercation between U.S. President Donald Trump and Tesla CEO Elon Musk.
NEAR Protocol has exemplified robust performance amidst market volatility, recovering from a sharp 5.2% decline to secure support at $2.42.
Recent trading activity indicates promising signs of accumulation, with stronger volume as support is re-tested, hinting at a double bottom pattern in shorter time frames.
This technical setup, along with potential movement above the critical $2.46-$2.47 resistance area, suggests buyers are regaining confidence despite overall market chaos.
NEAR’s recovery hints at increasing institutional faith in blockchain infrastructure efforts that exhibit tangible utility.
