NEAR Protocol breakout confirmed as price cleared the $3.20 range with an 18.43% surge and 138% volume spike, signaling a potential rally toward the $8 resistance. Traders should watch for retests near $3.2 and monitor momentum indicators for confirmation.
NEAR broke $3.20 resistance with an 18.43% rally and 138% higher volume
Short-term bullish momentum is supported by MACD and Chaikin Money Flow readings
RSI at 78.07 suggests overbought conditions; watch for retests near $3.16 support
NEAR Protocol breakout: price cleared $3.20 with strong volume, eyeing $8 resistance — track MACD, RSI, and volume for trade decisions. Read analysis now.
What is the NEAR Protocol breakout and why does it matter?
NEAR Protocol breakout refers to NEAR’s decisive move above the $3.20 consolidation zone after months of accumulation. This breakout, accompanied by an 18.43% price jump and a 138% volume increase, suggests a shift from accumulation to expansion and raises the possibility of a run toward the $8 resistance level.
How did trading activity confirm the breakout?
Volume surged over 138% on the breakout day, confirming strong buying interest and participation from larger traders. The Moving Average Convergence Divergence (MACD) line is above its signal line, while Chaikin Money Flow (CMF) sits positive at 0.19, both indicating buying pressure. These technical signals corroborate the breakout’s credibility.
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NEAR Protocol breaks out of $2-$3.2 range, signaling a potential bullish rally toward $8 .
- NEAR surged 18.43% breaking a key $3.2 resistance after months of accumulation.
- Volume surged over 138%, confirming strong buying interest in the asset.
- Bulls face resistance near $8,a critical level for sustained momentum.
NEAR Protocol has broken out of its months-long consolidation range, triggering a surge in bullish momentum. With volume exploding and price action heating up, traders are now eyeing the $8 resistance zone.
How did the market structure shift after the breakout?
NEAR Protocol (NEAR) displayed a classic accumulation-to-expansion pattern as noted by market observers. After several months of tight price action roughly between $2 and $3.2, the asset produced a strong bullish candle that carried price above the key $3.2 level, registering an 18.43% intraday gain.
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This move marks a shift from quiet accumulation to active expansion, with increased buying and renewed market interest. The 138% surge in daily trading volume confirms more participants entered the market at the breakout.
If bullish momentum persists, NEAR could advance toward the prior swing-high resistance near $8. However, risks include short-term overbought conditions—RSI is at 78.07—which could prompt a pullback or consolidation. Traders should prepare for potential retests around $3.16-$3.20 as invalidation levels for the breakout.
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Source: https://en.coinotag.com/near-may-target-8-after-breakout-above-3-2-as-volume-surges/