NEAR rallied by 6.7% in the past 24 hours as altcoins begin to heat up following bitcoin’s fresh record high at $123,000.
As investors anticipate a potential “altcoin season” several tokens like NEAR are reaping the rewards. NEAR jumped from $2.55 to $2.66 in the past 24 hours, representing a 7% range.
Support held firm at $2.51 before a breakout at 01:00 UTC driving prices up to $2.69 over the subsequent four hours.
It’s worth noting that NEAR remains well below its 2024 high of $9.00, which was spurred by hype around AI tokens following the launch of apps like chat bot apps like ChatGPT.
Technical Indicators Summary
- Support confirmed at $2.51 during consolidation phases.
- Buying pressure maintains above $2.62-$2.64 resistance-turned-support.
- Higher lows pattern establishes throughout recovery phase.
- V-shaped reversal completes with 143,188-unit volume spike.
- Breakout above $2.67 confirms bullish continuation.
- Next resistance targets $2.70-$2.72 levels.
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