NEAR Protocol: Technical Breakout Imminent

The price of NEAR Protocol is at a crucial consolidation point around $7.929, raising expectations of a major breakout in either direction. Based on the current technical analysis, here are the possible scenarios:

1. Bullish Scenario: Breakout Above $8.00

If the price breaks above $8.00, this will confirm increased buyer interest and bullish momentum.

Suggested Entry: > $8.00

Price Targets:

$8.15

$8.30

$8.45

Stop Loss: $7.80

Key Indicator: A sustained breakout above $8.00 will signal buyers' dominance, increasing the probability of hitting the targets.

2. Bearish Scenario: Break Below $7.80

In case the price loses the support at $7.80, it could trigger considerable selling pressure.

Suggested Entry: < $7.80

Price Targets:

$7.60

$7.45

$7.30

Stop Loss: $8.00

Key Indicator: Loss of the support would trigger a bearish trend with a high probability of reaching the lower levels.

Key Levels to Watch

Critical Resistance:

$8.00

Fundamental Support: $7.80

Traders should watch these levels closely as they will determine the next direction of the trend.

Conclusion

NEAR is in a critical phase that offers opportunities for both buyers and sellers. Keep an eye on the technical triggers ($8.00 and $7.80) and manage risk appropriately using stop-loss orders.