NEAR Protocol (NEAR) has dropped nearly 5% in 24 hours as altcoins react to Bitcoin's downturn, signaling short-term weakness amidst market volatility.
Despite a 27% decrease in trading volume, technical indicators suggest a potential bullish breakout as NEAR tests resistance within a descending channel.
Key price targets at $2.70, $3.65, $4.65, and $6.00 are being eyed by analysts, aligned with historical resistance levels and Fibonacci extensions.
NEAR Protocol remains promising for long-term growth due to its focus on scalable decentralized applications and developer tools, positioning itself for a potential strong performance in the altcoin market.