The cryptocurrency market is showing strength as the prices of both Bitcoin (BTC) and Ethereum (ETH) have surged over 13% in the past 7 days, with BTC hitting a new all‑time high of $125K today. Riding this momentum, several altcoins are beginning to display bullish setups — and Near Protocol (NEAR) is one of the standouts.
NEAR has gained 15% this week, and its current technical formation hints at the possibility of a major trend reversal ahead.
Rounding Bottom in Play
On the daily chart, NEAR appears to be shaping a rounding bottom pattern — a bullish reversal structure that often forms after a prolonged downtrend, signaling a gradual shift from accumulation to renewed buying strength.
The formation began earlier this year when NEAR faced rejection from the $3.37 zone in February 2025, leading to a sharp correction toward $1.80, where buyers stepped in to defend the level. Since then, the token has been forming higher lows, creating a smooth, curved structure characteristic of a rounding bottom.
Currently, NEAR is hovering around $3.09, testing its neckline resistance zone between $3.06 and $3.37 — a key level that could determine whether a new bullish phase is about to begin.
What’s Next for NEAR?
If bulls manage to push NEAR decisively above the $3.37 neckline, it would confirm a breakout from the rounding bottom formation. In that scenario, the token could aim for an initial upside target near $4.85, while a full breakout projection extends toward $6.13 — representing an upside potential of around 51% from current prices.
However, traders should also be prepared for short‑term volatility. A minor pullback toward the $2.40–$2.60 support zone before a confirmed breakout wouldn’t be unusual, especially if the neckline resistance temporarily holds.
For now, NEAR’s price structure suggests that the token is gearing up for a decisive move — and if buyers take charge, it could mark the beginning of a new bullish cycle for Near Protocol.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.