Analyst sees NEAR preparing to rise to $3.75

NEAR Protocol is currently trading around $2.31, down 1.5% in the past 24 hours. Yet analyst Trader_Luuk sees the setup for a rise. According to him, the price has regained an important support level and broken a local downtrend. He expects pullbacks to be buying opportunities, with price targets of $3 and $3.75.

NEAR Protocol is available at OKX and Bybit.

In brief:

• The NEAR price is at $2.31, with a slight decline of 1.5% in 24 hours
• Analyst Trader_Luuk sees the price recovering above an important support zone
• Price targets at $3 and $3.75, with pullbacks seen as buying opportunities

NEAR recovers above support zone

On the three-day chart, the NEAR price moved within a wide range for a long period, hitting a low around $1 earlier this year. A recovery towards $2 and higher then followed, with the grey zone on the chart acting as a support area.

Trader_Luuk states that the price has now regained that zone and has also broken a local downward trend. In his analysis, he notes that this is a positive signal for further price gains.

Price targets at $3 and $3.75

The chart shows a horizontal resistance line around $3.40, labelled as “eqhs”. The price targets the analyst mentions, $3 and $3.75, are well above the current level but still below or around earlier peaks visible on the chart.

Trader_Luuk advises using any pullbacks in the price as entry points. Whether this move actually materialises depends, of course, on broader market conditions. His analysis is an expectation, not a guarantee.