NEAR Breaks Six-Year Consolidation, Eyes Rally Toward $20
The NEAR Protocol has broken through its six-year consolidation structure and is showing renewed bullish momentum. According to crypto analyst Moustace, this setup is one of the most bullish patterns for the token.
The recent breakout from the $1.50-$1.58 support zone indicates that buyers have gained control after an extended period of accumulation and sideways trading. The NEAR price has moved toward $2.49 as aggressive buying activity pushed it higher.
A significant improvement in NEAR's technical position has been observed on TradingView charts, with the token moving above its key exponential moving averages, including the 20, 50, 100, and 200 EMAs. These averages are now arranged in an upward alignment, signaling strengthening momentum across multiple timeframes.
The rapid advance has pushed momentum into overbought territory, with NEAR's Relative Strength Index standing at 72.25 after a strong series of bullish daily candles. A pullback toward the $2.10-$2.20 area could become an important test for buyers, holding this region after the breakout would help preserve the bullish structure.