The price of NEAR Protocol (NEAR) surged over 19% this week, trading at $1.38 amid early signs of broader crypto market recovery. Analysts note key support around $1.31-$1.32 could serve as a base for a potential move toward the $1.40-$1.42 resistance zone. Technical indicators, including an RSI of 62.81, show sustained buying pressure without the asset being overbought.
The NEAR Protocol price has entered an upward consolidation phase with the token gaining 2.84% in 24 hours and 19.13% over the past week. According to CoinMarketCap, its market capitalization now stands at $1.78 billion while 24-hour trading volume is $257 million.
Crypto analyst Crypto Tony revealed the asset is at a crucial technical zone with the $1.31–$1.32 area watched as potential support. “Traders are watching for signs of stabilization and accumulation, suggesting selling pressure may be fading,” his analysis stated.
If positive momentum builds from this region, the next major upside target is the $1.40-$1.42 resistance range. The market must first confirm a stable base at the cited support levels before any significant further advance.
Momentum indicators support the ongoing recovery narrative, with the Relative Strength Index at 62.81. According to TradingView, this signals strong bullish strength without the token entering overbought territory.
The Moving Average Convergence Divergence (MACD) indicator also shows bullish divergence, with its histogram moving into the green zone. This crossover indicates increased positive momentum and invalidates the prior bearish outlook for NEAR.
