NEAR Breaks Below Parallel Channel: Key Levels To Watch
NEAR Protocol (NEAR) has experienced a 2.98% price decline in the past 24 hours, dropping below $3.40. Analyst Ali Martinez highlights the importance of reclaiming the $3.60 support level to avoid further downtrends. The price has fallen below a parallel channel, indicating bearish trends, with potential for a drop to $1.50, a 55% decrease from current levels. If NEAR holds above $3.60, it could rise to $4.50 and potentially $5.50, which are key resistance levels. The Relative Strength Index (RSI) at 36.75 suggests room for growth before reaching overbought conditions. Additionally, NEAR Protocol has launched OmniBridge, facilitating cross-chain integration of NEAR-native assets. Currently, NEAR trades at $3.38, with a market cap of $4.17 billion, ranking among the top 30 cryptocurrencies despite a 35% loss over the past month.
