After weeks of bearish price action, NEAR – the 37th-largest cryptocurrency by market cap and the native coin of the AI-focused blockchain Near Protocol – is finally starting to show signs of a potential bullish reversal.
NEAR eyeing a new ATH in Q4 2026
In a Thursday X post, crypto trader Michael van de Poppe remarked that NEAR recently made a strong move at a higher timeframe support level. He added that NEAR is showing a bullish divergence on the moving average convergence divergence.
For the uninitiated, A bullish MACD divergence occurs when an asset’s price makes a lower low while the MACD makes a higher low, suggesting that downside momentum is weakening. It can signal a potential trend reversal or rebound, although it is not a guarantee that price will rise.
Poppe predicted that with the aforementioned development in view, NEAR may be getting close to the end of its bearish phase. The first resistance level to overcome for NEAR would be around $1.85.
As of Thursday, NEAR is trading at $1.65, about 91.4 percent below its all-time high of $20.44 created in January 2022. Poppe said that if NEAR crosses past the $1.85 price level, then it would create a higher-high on the daily chart.
Towards the end of his price analysis, Poppe noted that he expects to see a fresh ATH for NEAR during Q4 2026. Fellow crypto analyst Sheldon Diedericks shared a similar bullish take on NEAR.
NEAR forms bullish double bottom pattern
In a separate X post, Sheldon said that NEAR has created what looks like a bullish double bottom pattern on the daily chart. With a recent bounce from the 200-day moving average level, NEAR looks ready to break the downtrend.
To explain, a double bottom is a bullish chart pattern where price falls to a support level twice, forming two similar lows with a rebound between them. A breakout above the peak between the two lows – also called the neckline – confirms the pattern, and can signal a potential move higher.
Meanwhile, protocol-level advancements like dynamic sharding, and positive governance decisions – like the elimination of developer rebate – are likely to further strengthen the bull-case for NEAR.
On the contrary, investors should avoid going all-in on the token. On the technical front, NEAR is still facing pressure as it makes its way through the bearish Elliott Wave 5 pattern.
