The Near Protocol is on a tear at spot rates, outperforming BTC and ETH in the last trading day. Currently, NEAR is perched at 20th in the market cap leader board, adding 21 percent in the previous week of trading versus the USDT. Notably, from the performance in the daily chart, the token is trading at a near two-month high in a bullish breakout formation.
NEAR prices are edging higher, rising with the crypto markets. In the daily chart, NEAR is trading within a bullish breakout pattern above $12, confirming earlier gains of March 23. Based on these developments, traders may find entries on every retracement towards $12—former resistance now support. The breakout pattern may form the basis for another leg up towards Q1 2022 highs of $20 in a buy trend continuation pattern. Conversely, a sharp drop below $12 would slow down buyers as subsequent confirmations nullify the bullish preview.
Near Protocol is turning the corner at spot rates. In a bullish breakout pattern above a bull flag, the token may spring back towards H1 2022 highs.