#Near Protocol exhibits a descending channel pattern, reflecting a current downtrend in its price trajectory.
Despite dropping below the $4.8 support level, Near found support at $4.3, bolstered by strong buying activity.
Robust accumulation has propelled NEAR price towards $6, with an aim to surpass immediate Fibonacci channels.
A significant bullish reversal positions Near Protocol to challenge overhead supply zones.
Noteworthy on the 1-day chart is the formation of a third consecutive bullish candle, suggesting a potential breakout of the descending resistance trendline.
Given the strong potential for a bullish breakout from the falling channel, NEAR's price might reach the significant $10 threshold.
According To Coingabbar's analysis, If Bulls, failure to breach the trendline may lead to a retreat in price, with a potential retest of $4.90 and nearing the lower support level.
KEY LEVELS :
RESISTANCE LEVEL : $7.75-$9.00
SUPPORT LEVEL : $5.90-$4.90
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