Bullish Pattern Sends NEAR Protocol Up 5%, Support Level Holds Firm

NEAR Protocol Defends Crucial Support, Rebounds 5% as Bulls Show Signs of Life

After days of chop and uncertainty, NEAR Protocol gave traders something to talk about Thursday: a sharp dip, a decisive bounce, and a potential shift in momentum.

The session began with weakness, as NEAR slipped below $2.45, triggering a fast move down to $2.42 — a level that’s quietly become a line in the sand for bulls. But just when things looked ready to unravel, buy volume surged, and NEAR flipped the script.

Buyers Step In Where It Matters

The $2.42 zone had already proven itself earlier in the week, but this second retest told a different story. Volume surged to 2.69M during the 20:00 UTC candle, and the reaction was immediate: NEAR bounced hard, printing a higher low and then a higher high within the next few hours.

From 07:15 UTC onward, the token began forming a staircase-like structure — slow, deliberate, and supported by spikes in volume at key levels. The peak came at $2.462, but what mattered more was what followed: a small pullback to $2.445 that held, followed by another lift toward $2.458.

Pattern Recognition in Play

What we’re seeing now is the early construction of a short-term reversal pattern — a potential W-shape bottom, complete with increasing volume and higher lows. The $2.42 level is not just support anymore; it’s becoming a psychological anchor.

If NEAR can reclaim and hold above $2.47 in the coming sessions, momentum may accelerate. On the downside, a break below $2.42 would likely trigger renewed selling pressure, possibly dragging the price back to May’s lows.

Final Take

Thursday’s bounce was more than technical — it was emotional. In a market that’s been starving for direction, NEAR’s price action gave bulls something they haven’t had in a while: a reason to hope.