NEAR Price Eyes $5.50 as Bullish Reversal Pattern Emerges

The price of NEAR Protocol is attracting renewed attention as a potential bullish reversal pattern takes shape on its daily chart.

A crypto analyst, Crypto With Gopal, has identified an inverted head-and-shoulders reversal pattern in NEAR protocol. The pattern consists of a left shoulder, a deep trough acting as the head, and another trough as a right shoulder with the neckline being close to the $3.40 level.

The analyst expects a move past $3.40 to result in the completion of the inverted head-and-shoulders pattern, indicating a broader recovery trend for NEAR.

If the pattern is successful, the price of NEAR could reach up towards $5.50, representing an impressive move from its current price of around $1.88.