NEAR Price Outlook: Support, Resistance and Alt Season Potential

Hello, Traders!

NEAR Protocol has been underperforming during this cycle, showing notable weakness compared to some other assets in the market.
However, it still holds potential for an upside move, especially if we witness a proper altcoin season.

Currently, NEAR is trading around a strong support area in the $4.50–$5.00 price range.
This area has historically been significant, and it seems unlikely that buyers will allow the price to break below it.
If an uptrend is to occur, it is most likely to begin from this area.

The $4.50–$4.80 zone presents an attractive accumulation range for mid-term investors, especially for those looking to position themselves ahead of any potential recovery.
However, for NEAR to convincingly shift into an uptrend, it must reclaim and sustain a position above the $6.00 resistance level.
If the price manages to break and hold above this threshold, we could see NEAR retesting its recent highs around the $8.00 level, with the possibility of pushing even higher depending on market conditions.

It's essential to note that NEAR overall remains weak.
Any significant upside movement would likely require BTC.D to drop below the 55% threshold, signaling a favorable environment for altcoins to rally.
Until then, NEAR is more likely to remain range-bound or continue its downtrend.

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