NEAR Protocol (NEAR) is showing signs of a potential trend reversal. According to recent analysis by The Crypto Information, an inverse head and shoulders pattern has formed on the daily timeframe. The price is currently hovering around $2.79, just beneath the neckline resistance near $3.30. This level previously acted as a strong support zone from November 2024 to February 2025. Now, it stands as the final hurdle before a potential breakout targeting $3.60 to $4.00.
Besides the technical setup, NEAR benefits from growing bullish fundamentals. As reported by The Crypto Information, Bitwise’s ETF filing has ignited fresh institutional interest. Additionally, the rollout of Protocol V77 upgrades supports the case for long-term growth. These developments strengthen the bullish structure taking shape on the charts.
Falling Wedge and Structural Shift
From December 2024, NEAR entered a sustained downtrend. This decline formed a falling wedge pattern marked by two converging descending trendlines. The wedge compressed price movement, leading to a significant low in April—forming the “Head.”
Before that, a smaller dip in March created the “Left Shoulder.” In May, the price formed a higher low, completing the “Right Shoulder.” These three points form a textbook inverse head and shoulders pattern. As highlighted by The Crypto Information, the neckline and upper wedge boundary are now intersecting. This convergence adds more weight to the current breakout scenario. However, volume has remained stable, with no strong push past resistance just yet.
Resistance Zone Tightens as Accumulation Builds
Currently, the $3.20 to $3.40 zone presents tough resistance. NEAR has tested this area multiple times but failed to break through. This suggests traders are waiting for stronger confirmation. However, the price structure has shifted positively. The trend now shows a transition from lower lows to a more balanced and symmetrical setup. This shift hints at early accumulation, as per The Crypto Information‘s technical outlook.
Support sits near $2.40, the base of the right shoulder. A break below this would invalidate the bullish formation. Consequently, traders are closely monitoring this level. The alignment of technical and fundamental factors paints a compelling picture. NEAR stands at a critical juncture. A confirmed breakout could unlock a rally towards $4.00.
