- NEAR Protocol targets $3 amid strong bullish momentum and trendline support.
- Key resistance lies at $2.75&-$2.80, and a breakout could fuel further gains.
- For now, staying above $1.99 is crucial for NEAR to avoid downside toward $1.44.
NEAR Protocol (NEAR) is gaining renewed attention in the crypto market as bullish momentum builds following a prolonged slump.
The cryptocurrency has already seen a strong bounce in July, supported by solid fundamentals, technical strength, and growing market interest.
After months of declining prices and cautious sentiment, NEAR is now showing promising technical signals that could set the stage for a meaningful recovery in the coming weeks.
Recent price action suggests that NEAR may be poised to reclaim higher levels, with analysts eyeing the $3 mark as a key upside target.
Price action turns bullish as NEAR breaks key levels
Over the past 24 hours, NEAR has climbed steadily, registering a 4% gain, reclaiming levels above $2.60.
This rally comes amid a broader bullish wave across altcoins, led by Bitcoin’s surge to an all-time high above $123,000.
Importantly, NEAR has managed to break above its previous resistance around $2.62, a zone that has now flipped into support.
This level had capped several upside attempts in recent weeks, so reclaiming it reinforces the current bullish narrative.
The short-term trend remains positive, with the price forming higher lows and holding above an ascending trendline on the hourly chart.
The trendline has remained intact despite minor pullbacks, indicating strong buyer interest on dips.
Supply zone near $2.80 could act as a test
As price pushes toward the $2.75&-$2.80 range, traders are now watching how NEAR behaves near this important supply zone. This area marks the first significant resistance where sellers may step in to stall the rally.
A clean breakout above $2.80 would likely trigger fresh momentum and pave the way for a move toward $3.21, with some analysts even projecting a further push to $3.86.
However, if the zone rejects price, a retest of the $2.55 support level could follow.
So far, the volume profile suggests strength behind the current move, with a sharp increase in buying activity on the breakout above $2.62.
As long as NEAR remains above $2.55, the bullish outlook is expected to remain valid.
Long-term downtrend may be reversing
While the short-term outlook appears promising, NEAR is still down more than 87% from its all-time high of $20.44, reached in January 2022.
Nonetheless, signs of a long-term recovery are starting to emerge.
According to analysts like those from CoinLore, maintaining a price floor above $1.99 is crucial for NEAR to continue climbing.
If this level holds, the next key resistance levels to watch will be $2.74, $3.21, and $3.86, respectively.
On the downside, any failure to hold the $1.99 level could expose NEAR to further losses, with $1.44 acting as the next major support.
However, current momentum and trend structure suggest that such a decline is unlikely unless broader market sentiment turns negative.
Near Protocol fundamentals support the technical rebound
Beyond the charts, NEAR’s technical fundamentals are also contributing to the renewed optimism.
Built as a scalable Layer 1 network, NEAR leverages advanced technologies such as Nightshade sharding and the Doomslug consensus mechanism to offer speed and efficiency for decentralised applications.
Recent network upgrades and a growing developer community are helping to strengthen the foundation of the NEAR ecosystem.
These improvements are beginning to attract new projects, signalling that confidence in the protocol is gradually returning.
Market forecasts also reflect a moderate long-term recovery, with average price targets for 2026 at around $3.44.
This suggests that while expectations are realistic, they also imply meaningful upside from current levels.
The post NEAR Protocol (NEAR) price forecast: target at $3 amid strong bullish recovery appeared first on CoinJournal.
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