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NEAR Protocol could enter a more sustained rebound if it breaks above $5.4, according to a U.Today analysis. The outlet said NEAR’s key resistance stands between $5.4 and $5.6, and a daily close above that range could open the way for a retest of $6.
On the downside, U.Today said support is near $4.8, where short-term moving averages are clustered, and a break below that level could send the token down to $4.3, its 50-day moving average. The outlet added NEAR’s relative strength index had been in overbought territory above 85, but has since fallen to around 50, leaving room for further gains. With trading volume declining, whether NEAR breaks below support or above resistance is likely to determine its next direction.