Near Protocol Eyes Breakout: Can NEAR Bulls Sustain Momentum?

Near Protocol (NEAR) has interested crypto analysts and trader, as its price action suggests potential bullish momentum.

Cryptocurrency Near Protocol (NEAR) has attracted the attention of crypto analysts and traders as its price action hints at potential bullish momentum. According to tweets by AltCryptoGems analysts Posty and Sjuul, NEAR has made gains, but critical levels need to be tested for a confirmed trend reversal to be established.

Both analysts highlight that while NEAR has had a strong day, further work is required to sustain its upward movement, especially with respect to key support and resistance levels.

NEAR Key Price Levels Play a Crucial RoleAltCryptoGems analyst Sjuul shared an analysis of NEAR's price structure, focusing on the importance of several key levels. The primary support/resistance zone is identified around $1.40, which NEAR needs to break and flip into support to confirm a bullish reversal. This level acts as a critical point for determining the token’s future direction.

Well done Bulls, level defended on $NEAR.

Now we are approaching the real trouble and the moment of truth.

To keep bullish momentum, we want to see first this higher low holding as the beginning of a change in structure and that S/R level flipped.https://t.co/sxiO525y9z pic.twitter.com/BVqaV6cTRa

Moreover, there are additional support levels, such as mid-range support at $1.25, which has held during the current price structure. NEAR also benefits from a strong support zone near $1.10, from where the token bounced, indicating that the bulls have successfully defended this level.

The analysts suggest that holding these levels will be key to maintaining bullish momentum moving forward.

Higher Low Signals a Potential Trend ShiftA notable observation from Sjuul’s chart is the formation of a higher low at $1.10, which signals a potential shift in the price trend. The bulls need to maintain this higher low to secure a positive change in structure. If NEAR manages to hold this level and subsequently flip the $1.40 S/R level, it could pave the way for further gains.

While NEAR has seen upward movement in recent days, analysts note that the token is now at a “moment of truth.” The next steps, especially in the coming days, will be crucial in determining whether NEAR can sustain this bullish structure or face resistance at critical levels.

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Near Protocol in Context of the AI NarrativePosty highlighted NEAR's involvement in the growing AI narrative, mentioning its ties to Nvidia. While NEAR has potential for growth, he advised caution, stating that a realistic top-end expectation for the token would be a 5-10x increase due to its market cap limitations.

$NEAR

Still got plenty of work to do despite being up nicely on the day. Same goes for so many alts out there.

I like NEAR as a play this cycle. Decent L1 tapping into the AI narrative with Nvidia links.

Think 5-10x is the realistic top end expectation though due to mcap. pic.twitter.com/pVlNwFjccx

This aligns with his belief that NEAR still has more work to do to realize its full potential during this cycle. Both Posty and Sjuul highlighted Near Protocol’s standing at a crucial juncture.

Key levels act as the gateway for either further bullish action or potential retracement. As the token continues to ride on market sentiment and narratives like AI, traders will be watching on to see how NEAR navigates these upcoming challenges.

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