NEAR Breaks Out: Inverse Head-and-Shoulders Pattern Targets $12

NEAR Protocol's native token has broken out of an inverse head-and-shoulders pattern on its weekly chart, setting up a potential 135% rally towards $12.

The breakout occurred after NEAR decisively moved above the $3.15 neckline on Sept. 30, accompanied by a sharp increase in weekly trading volume.

Using the inverse head-and-shoulders pattern's measured-move projection, NEAR could advance toward approximately $12.04 from its current price of around $5.10.

The token has reclaimed its major weekly exponential moving averages, with the 20-, 50-, 100-, and 200-week EMAs clustered between approximately $2.31 and $3.26, strengthening the $3.15-$3.30 area as a potential support region.