• NEAR Protocol’s breakout from a falling wedge signals renewed bullish strength and potential upside movement.
• Rising volume and regained momentum indicate increasing investor confidence and growing market participation.
• Sustained support above the $2.20–$2.25 range could push NEAR’s price toward $2.50 soon.

NEAR Protocol (NEAR) is showing early signs of a bullish recovery after breaking out of a falling wedge pattern. The breakout is indicating the possibility of a change of power from the sellers to the buyers amid the restoration of confidence in the markets. The analysts expect retention above the breakout area to open the door for further price increase.

At the time of writing, NEAR Protocol is trading around $2.29, with a 24-hour trading volume of about $450 million and a market capitalization of $2.88 billion. The token has gained 6% in the last 24 hours, reflecting a positive shift in short-term sentiment.

NEAR Protocol Approaches Key Resistance Zone

Noted crypto analyst World Of Charts highlighted that NEAR has rebounded from lower points and highlighted that it is crucial to close above a major horizontal resistance area. A close above the space, the analyst indicated, can create space for more buying chances.

NEAR Breakout Signals Renewed Bullish Momentum

Adding to this perspective, Alpha Crypto Signal also noted that NEAR has broken out from a short-term descending falling wedge formation, a technical configuration that is common going into a price reversal.

With this breakout confirming higher trading volume and a 9-day exponential moving average (EMA) price retracement, it indicates that buying demand is now starting to dominate the trendline following a continuous downtrend.

If NEAR holds up above the $2.20–$2.25 breakdown area, the next stops might be the 50-day simple moving average (SMA) around $2.32, then possible swings toward the $2.45–$2.50 area.

Overall, the chart formation and increasing volume are indicative that NEAR Protocol is possibly getting ready for an early date change. Provided that the price is below the upper edge of the wedge, optimism among investors is likely to increase gradually.

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Massive Bullish Sentiment Takes Lead

The sentiment is strong, with 85% bullish among electorates, expecting further growth for the future. Such a margin is an omen that optimism for the cure to the markets is central. Investors are also emerging to expect a slow price rise for the short-term.

On the other hand, 15% are bearish, showing that bearish sentiments are extremely weak. With over 112K votes, the community position reflects strong optimism and confidence among investors that the bulls are highly prevailing.

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