NEAR Protocol shows mixed signals. Currently, the token is trading at $2.46, recording a 2.83% decline within the past 24 hours. Accordingly, volume dropped to $125.8 million, decreasing by 17.34% as market interest cools off. This shortens the pressure immediately since the asset has also declined by 16% in the past week.
But crypto watchers aren’t sounding alarms yet. Analysts say the token is retesting a key technical pattern. It’s hovering around the upper line of a descending channel it recently broke out from. This retest is often a bullish signal, setting the stage for a possible reversal.
NEAR protocol breaks out of descending channel
The descending channel pattern shows a series of lower highs and lows which is characteristic of bearish movements. However, the recent break above the resistance line of the channel indicates that this may be about to change. Traders now want to see if NEAR can remain at these levels.
This “retest zone” close to $4.50 is where we could see some support develop. Price action along with moving averages is also pointing toward bullish strength. The 50-day MA has begun to curve upwards and lies now beneath price, which is a typical indication of upward momentum. Traders expect this setup to drive the prices up to $6.00.
NEAR price forecast for early 2025 with potential surge to 6.14
Near-term forecasts differ sharply. DigitalCoinPrice sees NEAR possibly hitting $6.14 in early 2025, with dips below $4.31 likely beforehand. That outlook includes a bold possibility: revisiting its all-time high of $20.42. While ambitious, it reflects strong investor faith.
Changelly offers a more cautious take. They predict a 2025 range between $2.60 and $2.81, with an average price near $3.02. June 2025 may see a small bump to $2.95. Even so, that reflects a modest ROI of 16.6%, showing that slow but steady growth could still attract risk-averse traders.
