<em><strong>The NEAR price action forms an inverted head and shoulder pattern with a neckline at $4.75. Will buyers manage to beat the seller's neckline?</strong></em>
<h3>Key Technical Points:</h3>
<ul>
 	<li>The Near Protocol prices show a bull run of 15% over the past two days.</li>
 	<li>The growing bullish influence results in a bullish crossover of the 50 and 100 SMA.</li>
 	<li>With a market cap of $3.47 billion, the intraday trading volume of Near Protocol has dropped by 18% to reach $427 million.</li>
</ul>
<h3>Past Performance of NEAR</h3>
As predicted in our <a href="https://www.cryptoknowmics.com/news/near-technical-analysis-can-buyers-avoid-a-drop-below-3-5" target="_blank" rel="noopener">previous article</a>, the NEAR price sustains about the $3.50 horizontal table to challenge the $4.75 mark. Furthermore, the bullish reversal creates an inverted head and shoulder pattern in the 4-hour technical chart with the neckline at the $84.75 horizontal level. Additionally, the increased buying pressure evident by the increased trading volume projects a high possibility of a bullish breakout.

<img src="https://s3.tradingview.com/snapshots/e/esWXxtOB.png" alt="TradingView Chart" />

Source - <a href="https://www.tradingview.com/x/esWXxtOB/">Tradingview</a>
<h2>NEAR Technical Analysis</h2>
If the NEAR price trend breaks above the $4.75 resistance level, the breakout rally can reach the overhead resistance of $5.69. Hence, traders can expect the market value to jump by 20% if the buying pressure sustains.

With the recent bullish crossover of the 50 and 100 SMA, the crucial SMAs in the 4-hour chart regain a positive alignment.

The RSI slope maintains a gradual uptrend above the halfway line and exceeds the 14 days average line. Hence, the technical indicator represents an increase in the underlying bullishness teasing a potential bullish breakout.

Furthermore, the MACD indicator displays an increasing bullish spread between the fast and slow lines as the positive trend in the bullish histograms gains momentum.

In a nutshell, the NEAR technical analysis projects a high likelihood of a bullish breakout $4.75 neckline.
<h2>Upcoming Trend</h2>
If the Near Protocol prices manage to exceed the $4.75 mark, the traders will observe a bullish breakout of the inverted head and shoulder pattern. However, a bearish reversal will retest the $4 mark.

Resistance Levels: $4.75 and $5

Support Levels: $4 and $3.5

NEAR Technical Analysis: Bullish Pattern Teases Jump Above $5

According to the technical analysis, NEAR price action forms an inverted head and shoulder pattern with a neckline at $4.75.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

NEAR Technical Analysis: Bullish Pattern Teases Jump Above $5

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