- NEAR surged 18.43% breaking a key $3.2 resistance after months of accumulation.
- Volume surged over 138%, confirming strong buying interest in the asset.
- Bulls face resistance near $8,a critical level for sustained momentum.
NEAR Protocol has broken out of its months-long consolidation range, triggering a surge in bullish momentum. With volume exploding and price action heating up, traders are now eyeing the $8 resistance zone.
NEAR Protocol Breaks Out, Ignites Bullish Momentum
NEAR Protocol (NEAR) is showing a classic accumulation and expansion pattern as per a chart shared by market watcher Four Crypto spaces via X platform. After several months of tight price consolidation between roughly $2 and $3.2. The asset finally broke out with a strong bullish candle, climbing 18.43%.
This move shows a shift from a quiet accumulation phase to an active expansion phase, with increased buying activity and growing market interest.
NEAR’s price action displayed low volatility and volume, indicating that smart money is quietly building positions. As the price pushed above the $3.2 breakout point, it triggered over 138% jump in daily trading volume confirming that more investors were interested.
Eyes on $8 Resistance as Momentum Builds
If the bullish momentum continues, NEAR could enter a parabolic run toward the $8 resistance zone that has acted as a strong ceiling in the past swing highs. Traders should however watch for possible retests of the breakout range near $3.2 before a sustained rally.
As at the time of writing,NEAR was trading near $3.22, with a market cap of about $4.02 billion. Despite a slight 4% pullback over 24 hours, the asset posted a solid 10.6% gain over the past week, showing a growing short-term uptrend.
Mixed Technical Indicators
The Moving Average Convergence Divergence (MACD) line is above the signal line, indicating that upward momentum is intact.The Chaikin Money Flow (CMF) reading is also positive at 0.19 .This shows buying pressure dominating the market.
However, the Relative Strength Index (RSI) is hovering at 78.07, above the overbought threshold of 70.Such a condition could trigger a short-term pullback and a consolidation.
As NEAR enters this pivotal phase, the balance between buyers and sellers will determine if the asset can sustain its breakout and challenge the long-term resistance near $8.For now Bulls are in control but a correction toward $3.16 support remains possible if selling pressure intensifies.
