Date: Tue, June 17, 2025 | 06:38 PM GMT
The cryptocurrency market is experiencing bearish volatility following mounting geopolitical tensions between Israel and Iran. Ethereum (ETH) took a sharper hit from its 24-hour high of $2,680 and is now hovering near $2,470. Unsurprisingly, altcoins aren’t spared — and Near Protocol (NEAR) is among the notable names facing a steep pullback.
The AI token dropped over 10% in the last 24 hours, extending its monthly decline to a heavy 23%. But while the chart might look grim at first glance, a deeper technical view suggests something entirely different — a potential bullish setup quietly mirroring a historic fractal from NEAR’s past.
A Powerful Fractal Re-Emerging?
If we look back at late 2021, NEAR formed a descending broadening wedge — a pattern typically considered bullish — followed by a bottoming structure at key support (green zone). What happened next? NEAR broke out and surged by over 1180%, peaking near $20+.
Now, fast forward to the present.
As shown in the latest chart, NEAR is showing an almost identical fractal setup. It’s once again forming a descending broadening wedge with multiple rejections at the upper trendline (blue dots), and price is revisiting the green support zone around $2.12 — exactly where its last historic move began.
What’s Next for NEAR?
If NEAR holds above the green support zone and confirms a breakout above the descending wedge, it may follow the same explosive path — with potential upside targets back toward the $18–$20 range, just like in the previous cycle.
However, traders should remain cautious and wait for clear confirmation. As long as NEAR remains within the wedge, downside risk remains — especially with broader macro uncertainty in play.
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