🚀 NEAR Protocol (NEAR) Primed for Breakout: Bulls Target $3.65 as Momentum Builds

NEAR Protocol shakes off the crypto winter blues as its price action hints at a major bullish reversal. Traders are now laser-focused on the $3.65 resistance level—a breakout could send shockwaves through altcoin markets.

The Setup: After months of sideways movement, NEAR's chart patterns suggest accumulating strength. The token's recent higher lows and increasing volume paint a classic breakout scenario.

Why $3.65 Matters: This key psychological barrier represents a 20% upside from current levels—and more importantly, would confirm the first sustained uptrend since the last bear market crushed overleveraged degens.

Market Context: While traditional finance wrestles with inflation data, crypto natives know the real action happens in these micro-breakouts. NEAR's developer activity and institutional backing give this move fundamental credence beyond just speculative pumps.

One thing's certain: if NEAR conquers $3.65, the 'I told you so' tweets from bagholders will be almost as satisfying as the profits.

TLDR

• NEAR Protocol (NEAR) has dropped nearly 5% in 24 hours, following Bitcoin’s market decline
• Trading volume decreased 27% to $115.6 million while market cap sits at $2.51 billion
• Technical analysis shows NEAR testing upper resistance of a descending channel pattern
• Key price targets identified at $2.70, $3.65, $4.65, and $6.00 based on historical levels
• DWF Labs governance proposal to reduce NEAR inflation from 5% to 2.5% has created market debate

NEAR Protocol has experienced downward pressure over the past 24 hours as cryptocurrency markets react to Bitcoin’s recent weakness. The altcoin dropped nearly 5% during this period, extending its weekly losses to approximately 7%.

Currently trading at $2.04, NEAR maintains a market capitalization of $2.51 billion. Trading volume reached $115.6 million in the past 24 hours, representing a 27% decrease from the previous day.

The price decline reflects broader market sentiment as investors adopt more cautious positions. Bitcoin’s slide below major support levels has created fear among market participants, putting pressure on alternative cryptocurrencies.

NEAR’s recent price action shows the token testing a range between $2.08 and $2.19. The volatility band spans $0.11, representing approximately 5% of the token’s current value.

A critical support level has formed around $2.08 to $2.10. This level has been confirmed through multiple bounces with above-average trading volume.

Technical Analysis Points to Possible Reversal

Chart analysis reveals NEAR is currently testing the upper resistance of a downtrending channel. This technical setup often precedes bullish breakouts when combined with rising demand near resistance areas.

#NEAR

Near Protocol is testing the upper resistance of a smaller descending channel on the daily chart👀

Price action shows increasing buying pressure near the resistance boundary🔥

A successful breakout could push the price toward targets at $2.70, $3.65, $4.65, and $6.00🎯 pic.twitter.com/LgaSfOXdKH

— Jonathan Carter (@JohncyCrypto) July 1, 2025

The price action suggests market participants may be positioning for a potential reversal. Rising demand near the resistance zone indicates growing buying interest at current levels.

If NEAR successfully breaks above the descending channel, analysts have identified several key price targets. The first target sits at $2.70, followed by $3.65, $4.65, and $6.00.

These target levels align with historical resistance zones and Fibonacci extension calculations. The progression represents potential upside moves if bullish momentum develops.

Governance Proposal Creates Market Discussion

Trading firm DWF Labs has submitted a governance proposal that could impact NEAR’s tokenomics. The proposal suggests reducing NEAR’s inflation rate from 5% to 2.5%.

$NEAR All time high was $20.44⁰Current price? $2.19 👀

→ Intents are live.⁰→ AI Agents are cooking.⁰→ Chain Abstraction ? Shipped .⁰→ @hotdao_ , @meta_pool , @rhea_finance , @OrderlyNetwork , Near intents ,@veaxlabs all forking building.
→ Proposal to cut inflation from… pic.twitter.com/AifXhNsakT

— Wax (@waxnear) July 1, 2025

While lower inflation could create token scarcity and potentially support prices, the proposal has generated debate. Some market participants worry that reduced validator rewards might impact network security.

The concern centers on whether validators might switch to other networks if their compensation decreases. This could potentially affect the network’s decentralization over time.

The governance discussion has contributed to recent price volatility as market participants weigh the potential implications. The proposal remains under community consideration.

Recent trading data shows NEAR demonstrated recovery potential during a one-hour period on July 1st. The token ROSE from $2.08 to $2.10, representing a 1% gain during this timeframe.

The recovery formed an upward channel with higher lows and higher highs. Price broke above $2.08 resistance and quickly established support at $2.09.

A volume spike occurred during the recovery period, creating a brief pullback before buyers stepped in. This pushed the price to a session high of $2.10.

The recovery from the mid-session dip confirms underlying demand and suggests potential for continued upward movement.