NEAR Protocol currently has a market cap of $4.618 billion, firmly establishing itself as a leader in the AI cryptocurrency space. In the past 24 hours, the NEAR token has increased in value by 2.31% and is currently trading at a stable price of around $4.07, despite a 1.36% correction during the trading day. Last night, NEAR's price encountered resistance while attempting to break through the 50-day moving average (around $4.30) and was blocked by the key 23.60% Fibonacci retracement level (at $4.379), which increases the possibility of a head and shoulders pattern forming on the technical chart, with the neckline set at $3.523.
However, despite the short-term challenges, the overall recovery trend of the market and the upward trend of the relative strength index (RSI) provide positive signals for the potential upside of the NEAR token. If the 23.60% Fibonacci resistance level can be successfully broken, the price of NEAR is expected to rise further, with targets of $1.05 and $1.0558 (there may be a typo here, and the target is usually set based on the current price, such as $5 or higher, but the original number is retained to maintain the original intention). At the same time, the downside risk is limited by the two key support levels of $3.859 and $3.60.
