- NEAR gained 6.7% in the last 24 hours, following a surge in altcoin activity after Bitcoin reached a new all-time high of $123,000.
- NEAR’s price moved from $2.55 to $2.66, covering a 7% trading range.
- The token experienced a breakout above $2.67, with strong support established at $2.51.
- NEAR is still trading significantly below its 2024 high of $9.00, which came after interest in AI-related tokens earlier this year.
- Technical indicators signal a bullish trend with a V-shaped reversal and a large volume increase; the next resistance is expected at $2.70-$2.72.
NEAR rose by 6.7% in the past 24 hours as several altcoins started to show upward movement, triggered by bitcoin’s new record high price of $123,000. The price of NEAR climbed from $2.55 to $2.66 during this period, reflecting higher trading activity.
Investors are becoming more interested in altcoins, anticipating a potential “altcoin season.” NEAR’s support held at $2.51, and a price breakout occurred at 01:00 UTC, leading to a rapid increase up to $2.69 over the next four hours.
The token’s latest surge still leaves it significantly below its peak for 2024, which was $9.00. That earlier high came amid hype for AI tokens, particularly after the launch of popular AI chatbot apps like OpenAI.com/blog/chatgpt”>ChatGPT.
Technical data points to continued bullish momentum. Support was confirmed at $2.51, and buying pressure held NEAR prices above the $2.62-$2.64 range, now considered a new support level. The price chart shows a pattern of higher lows and a V-shaped reversal, accompanied by a spike in volume to 143,188 units. A move above $2.67 indicates the trend could continue higher, with the next resistance expected in the $2.70 to $2.72 zone.
While NEAR is gaining attention among altcoins, it remains to be seen if the latest rally will push prices closer to previous yearly highs. For now, technical signals continue to point toward a stronger short-term outlook.
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