NEAR Protocol (NEAR) Holds $1.80 Key Support With $3.30 in Sight

• NEAR holds above the critical $1.80 support, a key level that could trigger a bullish trend continuation.
• A drop below $1.80 could push NEAR toward the $1.00 support zone, signaling increased selling pressure.
• Potential upside targets include $2.45 and $3.30, but strong resistance is expected at each level before a breakout occurs.

Near Protocol (NEAR) is on the way to its positive price trajectory with a surge in its value, with the increasing interest in the crypto sector. The token currently stands at $1.85 with a surge of 2.01% over the last 24 hours.

Moreover, the crypto analyst, Ali, noted that NEAR Protocol (NEAR) is at a critical level, with $1.80 acting as a key support for its price. Holding above this level could pave the way for a rally towards $2.45 and $3.30, with strong resistance at each point. The bullish outlook depends on $NEAR maintaining this support, as further gains are likely if the price stays above $1.80.

Source: X

However, a drop below $1.80 could trigger a sharp decline, with the next support zone at $1.00. A break below this level would shift the market sentiment, potentially leading to additional selling pressure. As the price teeters on this support, traders must watch for signs of either a breakout or a bearish reversal.

Also Read: NEAR Protocol Price Alert: Could NEAR Soar to $7.55 Soon?

Bollinger Bands Point to a Potential Turnaround for NEAR

The graph demonstrates large fluctuations, as it shows that the price reached as high as $3.60 in September and then dropped below $2.00 by the end of November. The level of volatility demonstrated by the Bollinger Bands suggests that there is high volatility as it approaches the lower band, which suggests potential oversold conditions and the possibility of a rebound.

Source: TradingView

Exponential Moving Averages (EMAs) convey that there is a bearish outlook as the token price falls below the 20-day EMA. The shorter-term EMA values have been positioned above the longer-term EMA values, which accentuates the bearish trend. Currently, there has been some appreciation in its prices; however, it remains below the major resistance levels.

Momentum Indicators Hint at a Reversal Soon

The NEAR’s price had peaked above $3 and has generally been declining, making lower highs and lower lows. The development shows declining market sentiment and cautious investor behavior. The current candlestick shows it to be green, indicating some positivity, but overall bearish market conditions imply that the fall may not be over yet.

Source: TradingView

The RSI value stands at 34.93 and approaches the oversold level. The momentum looks like reversing or stabilizing. The MACD shows a bearish trend since the MACD line is below the signal line. All these signals confirm that the market will keep experiencing downward pressure unless there is improvement in purchasing forces.

Also Read: NEAR Protocol Set for Bullish Breakout With $11 Potential