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NEAR has recently been somewhat overlooked. From its all-time high in 2021, it has been in a multi-year descending wedge pattern, and now the price is stuck at $1.78. Interestingly, this price level is close to the 0.786 Fibonacci retracement line, with a bullish trend line supporting underneath.
What does the technical outlook look like? If NEAR can break through the $5 resistance level, it would be quite promising. Based on the fully extended logical projection, the target could reach $21 (which is the all-time high), and more aggressive traders might even look for over $48. Of course, risk management must also be considered—if the weekly close drops below $1.40, this bullish setup needs to be reassessed.
From a market cycle perspective, we should currently be transitioning from the accumulation phase to the expansion phase. However, trading should wait for confirmation signals, and risk management must never be relaxed.