NEAR may be shaping a cup and handle pattern, signaling potential bullish momentum. The crypto analyst, Sjuul, highlighted that the cup, a shallow U-shaped consolidation, has seen the token repeatedly test its resistance, or neckline, indicating market indecision.
While the formation isn’t fully clear yet, traders are closely watching NEAR for signs of a breakout that could confirm this classic technical setup.
Source: Sjuul X Post
If NEAR breaks decisively above the neckline, the next target could reach $1.50, suggesting renewed upward momentum. The handle, representing a minor pullback, may form before a breakout, offering potential entry points for traders.
While the pattern is promising, market volatility could alter its course, so investors are advised to track price action and resistance levels carefully.
Also Read: NEAR Protocol Signals Breakout Power as $1.12 Level Holds Strong
NEAR Technicals Point to a Strong Recovery Phase
According to TradingView, NEAR is displaying a strong bullish reversal pattern. The price, which found a low of $0.88 in February, saw an enormous 19.15% green candle, pushing the price up to $1.3697.
The price is breaking out of the upper Bollinger Band and taking back the 20- and 50-day EMAs, indicating an immediate shift from the downtrend to growth.
Source: TradingView
The price’s short-term momentum is high, but the price is still below the 200-day EMA at $1.86, which shows the long-term bearish pressure.
It appears the price might experience a cooling-off period near the 100-day EMA at $1.48. Traders should look for a breakout to hold above the $1.25 support level to sustain the trend reversal for 2026.
Momentum Indicators Point to Strong Bullish Momentum
The RSI (14) is presently soaring at 65.28, which indicates a strong rise in the bullish momentum. The index is rising significantly above the yellow signal line, suggesting that the bulls are driving the market.
Although the index is moving towards the overbought region of 70, it still has some room to move before the present price action is considered technically overbought.
Source: TradingView
The MACD makes a strong move into the trend with a definite bullish signal as the blue line stays above the orange line.
The histogram shows a column of solid green, growing taller to reflect the increasing strength. It indicates a strong recovery, although a flattening histogram would indicate that the strength is leveling off.
Also Read: Near Protocol (NEAR) Eyes Breakout Above $1.40 Toward $2.20 Target