NEAR Eyes Breakout as Inverse Head and Shoulders Pattern Emerges

NEAR forms a textbook inverse head and shoulders pattern near key resistance, signaling a potential breakout toward $4.00.

Technical breakout converges with Bitwise ETF interest and Protocol V77 upgrades, boosting bullish sentiment around NEAR.

Price structure shift and falling wedge breakout setup suggest early accumulation and growing momentum for NEAR above $3.30.

NEAR Protocol (NEAR) is showing signs of a potential trend reversal. 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. 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.”

Source: CryptoBusy

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. The neckline and upper wedge boundary now intersect. 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.

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.

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