NEAR Protocol Poised for Breakout? Key Level Could Trigger Next Big Rally
In his latest technical update, van de Poppe highlights a crucial resistance-turned-support zone that could act as the launchpad for the next leg higher.
The Setup: Reclaim or Reject
The zone in question sits between approximately $3.20 and $3.85, shown in green on the chart. Historically, this region has served as both support and resistance. NEAR is now testing this area from below after a significant bounce from sub-$3.00 levels.
The chart suggests a potential scenario:
- A reclaim of this zone
- Consolidation above
- Followed by a breakout toward $5.00 and beyond
Van de Poppe notes this as a reclaim here moment. If NEAR can hold above the zone on a daily or weekly close, it would indicate strength and open the door to a sustained upward trendpossibly mirroring the explosive runs it has shown in prior cycles.
Volume and RSI Support the Case
The volume profile beneath the price action shows increasing interest as NEAR pushes toward resistance. This suggests strong market participation, a key ingredient for any breakout to gain momentum. Meanwhile, the Relative Strength Index (RSI) on the chart is climbing but still far from overbought, leaving room for upside.
Conclusion: NEARs Breakout Hinges on This Zone
With a clean reclaim of the $3.20$3.85 zone, NEAR could be primed for its next major rally, potentially targeting the $5$6 range. Traders are watching closelybecause in crypto, when the reclaim hits, the real run begins.
The post NEAR Protocol Poised for Breakout? Key Level Could Trigger Next Big Rally appeared first on Coindoo.
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Text source: Coindoo
