Date: Mon, Sept 22, 2025 | 09:10 AM GMT
The cryptocurrency market is facing a sharp downturn, with over $1.7 billion in liquidations recorded in the past 24 hours. Ethereum (ETH) has dropped more than 6%, sliding to the $4,200 level. Major altcoins are also under pressure, including Near Protocol (NEAR), one of the leading AI-focused tokens.
NEAR has fallen over 9% in the past day. More importantly, the token is now testing a pivotal technical level that could determine its next direction.
Retesting Symmetrical Triangle
On the daily chart, NEAR has been consolidating within a symmetrical triangle — a neutral pattern that often precedes strong breakouts.
Recently, NEAR found support near $2.34 before rebounding sharply. This rebound pushed the token above the triangle’s descending resistance line, confirming a breakout at around $2.78. The move carried NEAR as high as $3.34.
However, as often happens after strong breakouts, the price has now pulled back to retest the breakout level. At present, NEAR is trading near $2.84 — right on the retest zone highlighted in the chart — where buyers may attempt to reassert control.
What’s Next for NEAR?
The ongoing retest is a critical test for the bulls. If buyers can successfully defend the $2.74 zone and push NEAR back toward the $3.34 local high, the token could reignite bullish momentum. A decisive breakout above that resistance would open the door for further upside.
Based on the triangle breakout projection, NEAR has the potential to climb toward the $4.37 level, which represents a nearly 53% upside from current prices.
On the other hand, failure to hold the breakout zone could see NEAR fall back inside the triangle, invalidating the bullish breakout and raising the risk of a deeper correction.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
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