NEAR Price Breaks Through Resistance as Buyers Eye $3.40 Target

NEAR Protocol (NEAR) is showing signs of strong recovery after buyers pushed the token past several important moving averages. According to Crypto Warrior, NEAR is currently testing a major trendline resistance, and a successful breakout could change its market structure and potentially push it toward the $3.40 target.

The token has reclaimed its 20, 50, 100, and 200-day exponential moving averages during the recovery, which suggests that buyers have regained control of the broader trend after a prolonged consolidation phase.

However, momentum indicators present a mixed picture, with the MACD line and signal line remaining above the zero level but declining histogram bars indicating fading upward momentum. This could mean NEAR requires another consolidation phase before attempting a stronger breakout.