AI-focused blockchain network, Near Protocol’s native cryptocurrency, NEAR is primed for a surprising move to the upside. Currently ranked 35th on Coingecko in terms of reported market cap, a parabolic rally could catapult NEAR right among the top 20 blockchains.
NEAR prints higher low on the chart
In a Tuesday X post, crypto trader Michael van de Poppe remarked that NEAR is one of the first few assets to turn up the cooler-than-expected U.S. inflation data. The trader added that NEAR has printed a higher low on the daily chart.
If NEAR manages to break through the $2.10 resistance level, then a rally to $2.30 could very well be on the horizon. The following chart shows NEAR recording gains to the tune of around 9.36 percent over the past 24 hours, jumping significantly from the $1.85 price level.
To explain, a higher low forms when an asset pulls back, but finds support above its previous low, showing that buyers are stepping in earlier than before. It is considered a bullish signal because it reflects strengthening demand and also marks the continuation of an uptrend.
Although NEAR is showing renewed bullish momentum – up approximately 25 percent on a year-to-date basis – the cryptocurrency is still around 90 percent below its all-time high value of $20.44 recorded back in January 2022.
However, unlike 4 years ago, the Near Protocol in 2026 has multiple strong real bullish catalysts behind it. On Wednesday, the House of Steak – Near Protocol’s on-chain governance platform – passed HSP-027 to redirect all protocol fees for a token burn mechanism.
Analyst cautions before potential NEAR sell-off
Offering a contrasting take to that shared by Poppe, crypto analyst Wick remarked that NEAR looks ready for a final expansion before a major sell-off.
The analyst said that although NEAR may break out of the current range, it will then follow an ABC structure into the $2.40-$2.50 zone.
After NEAR hits the $2.40 level, it will show weak momentum and will likely drop all the way down to a price zone between $1.57 to $1.84. The bearish take aligns with crypto entrepreneur Arthur Hayes’ recent thesis that suggested that altcoins are showing overall weakness in the market.
