<em><strong>The NEAR Technical Analysis displays a bullish attempt to control the triangle fallout rally at the crucial support level of $3.5.</strong></em>

The NEAR price action displays a triangle fallout rally, struggling to crawl under the bottom support level at $3.5. Additionally, the lower price rejection candles at the support level tease a trend reversal rally to retest the triangle breakout. So, should you consider taking a short-term bullish entry?
<h3>Key Points:</h3>
<ul>
 	<li>The <a href="https://www.cryptoknowmics.com/news/an-introduction-to-the-near-protocol-what-is-it-and-how-does-it-work/" target="_blank" rel="noopener">Near Protocol</a> price action shows a trend reversal possibility.</li>
 	<li>Increasing long-wick candles at the $3.5 support level displays a bullish inclination in the underlying sentiments.</li>
 	<li>The intraday trading volume in Near Protocol is $144 million.</li>
</ul>
<img src="https://s3.tradingview.com/snapshots/u/UICnKGY3.png" alt="TradingView Chart" />

Source - <a href="https://www.tradingview.com/x/UICnKGY3/" target="_blank" rel="nofollow noopener">TradingView</a>
<h2>NEAR Technical Analysis</h2>
The NEAR price action displays the recent rejection from the 100-day EMA in a triangle pattern to test the bottom support level of $3.5. The correction phase accounts for a depreciation of 30% within a fortnight and increases bearish momentum in the declining EMAs.

Furthermore, the declining price trend generates a new resistance trendline leading to a falling wedge pattern. Currently, the market price rests at the support confluence of the descending trendline and the $3.5 support level.

<img src="https://s3.tradingview.com/snapshots/i/iBCgFgh8.png" alt="TradingView Chart" />

Source - <a href="https://www.tradingview.com/x/iBCgFgh8/" target="_blank" rel="nofollow noopener">TradingView</a>

However, the increasing trend in the intraday trading volume supporting the Doji candles at the $3.5 mark projects a high possibility of a trend reversal. Therefore, if the buying pressure increases, we can expect the bullish rally to continue to the overhead resistance trendline at $4.5.

Conversely, if the sellers gain momentum below $3.5, the NEAR market price will tumble to the bottom support at $2.58.
<h2>Technical Indicators</h2>
The RSI slope spikes display a declining trend in the nearly oversold zone under the 14-day SMA's influence reflecting weakness in the bullish prowess. Moreover, the MACD indicator shows the declining bearish spread between the fast and slow lines teasing a bullish crossover.

Therefore, the technical indicators show the underlying sentiments are taking the bullish highway. As a result, the NEAR technical analysis forecasts a bullish breakout of the $1.20 breakout.

Resistance Levels - $4 and $4.5

Support Levels - $3.5 and $2.58

NEAR Technical Analysis: $3.5 Support Level Cushions Triangle Fallout

The NEAR technical analysis displays a bullish attempt to control the triangle fallout rally at the crucial support level of $3.5.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

NEAR Technical Analysis: $3.5 Support Level Cushions Triangle Fallout

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