NEAR Rebounds Off Key Support as Bullish Momentum Builds Above $2.42

NEAR Protocol (NEAR) demonstrated a technical bounce Thursday after dipping to $2.42, a level that has now acted as strong intraday support multiple times this week. The token recovered over 5% from its low, closing near $2.46 as buy-side volume accelerated late in the session.

Price Action Recap:

• Intraday Low: NEAR hit $2.415 before reversing higher.
• Double Bottom Formation: Repeated defense of the $2.42 level formed a short-term double bottom pattern, often signaling a shift in control from sellers to buyers.
• Volume Spike Confirmation: The bounce was confirmed by a notable 2.69M volume print at 20:00 UTC, followed by elevated volumes during the uptrend leg around 07:15 UTC and 07:37 UTC.
• Higher Lows Established: After reclaiming $2.46, NEAR pulled back slightly to $2.445, then made a higher low and advanced again to $2.458—evidence of strengthening bullish structure.
• Momentum Holding: NEAR consolidated just below local resistance at $2.47, setting up for a potential continuation move if broader sentiment improves.

Trade Setup

As long as $2.42 holds, the short-term bias remains bullish. A confirmed break above $2.47 could target the next resistance band at $2.55. Momentum traders may look to accumulate on dips, while risk management remains tight beneath the $2.42 invalidation zone.