NEAR Protocol Reclaims Momentum After Support Retest at $2.42, Technical Reversal in Play
NEAR Protocol (NEAR) demonstrated a constructive price response on Thursday, rebounding from critical support at $2.42 following a brief 5% pullback. The recovery was accompanied by rising volume and a textbook short-term reversal pattern, adding to bullish conviction in the $2.42–$2.47 range.
Key Technical Metrics:
- Support Retest: The token touched an intraday low of $2.415 before sharply reversing. This marked the second successful defense of the $2.42 zone in 48 hours.
- Volume Spike: Trading volume surged to 2.69M at 20:00 UTC, supporting the bullish reversal.
- Price Rebound: NEAR moved from $2.415 to a session high of $2.547, a 5.2% recovery.
- Microstructure Shift: From 07:15 UTC onward, the token formed a series of higher lows and higher highs. Key prints included:
- $2.462 high at 07:34
- Pullback to $2.445
- Subsequent rise to $2.458 by 07:54 UTC
- Volume Confirmation: 206K volume at 07:15 and 120K at 07:37 signaled continuation strength.
- End-of-Session Price: Consolidation near $2.455 with upward bias intact.
Tactical Outlook:
- Immediate Resistance: $2.47 (short-term pivot); breakout above may extend rally toward $2.55–$2.60.
- Key Support: $2.42 (failure here reopens downside risk).
- Signal Bias: Bullish reversal confirmed on intraday basis; watch for continuation pattern confirmation on 4H and daily close.
This pattern aligns with broader bottoming behavior across mid-cap Layer 1 assets as crypto markets digest macro headwinds.
