Near Protocol eyes rally as technical indicators signal bullish momentum

• 
  Near
  Protocol
  price
  retested
  its
  support
  zone
  between
  $4.23
  and
  $4.48,
  impending
  rally
  eyed.
• 
  RSI
  and
  AO
  indicators
  form
  bullish
  divergences,
  signaling
  bullish
  reversal.
• 
  Daily
  candlestick
  close
  below
  $4.04
  would
  invalidate
  the
  bullish
  thesis.

Near
Protocol
(NEAR)
has
retested
its
support
zone
between
$4.23
and
$4.48
earlier
this
week,
with
an
impending
rally
on
the
horizon
looking
more
like
on
Friday.
Bullish
divergence
on
the
Relative
Strength
Index
(RSI)
and
the
Awesome
Oscillator
(AO)
indicators
signals
a
potential
reversal
and
upward
movement
in
NEAR
price
in
the
coming
days.

Near
Protocol
price
is
situated
for
rally

Near
Protocol
price
retested
its
support
zone
between
$4.23
and
$4.48
on
Monday
and
rebounded
10%
in
the
next
few
days.
As
of
Friday,
it
is
up
1.4%
at
$5.

This
support
zone
roughly
coincides
with
the
61.8%
Fibonacci
retracement
level
at
$4.04,
measured
from
its
swing
low
of
$0.97
on
October
19,
2023,
to
a
swing
high
of
$9.01
on
March
15,
2024.

Additionally,
the
formation
of
a
lower
low
on
the
daily
chart
on
July
5
contrasts
with
the
Relative
Strength
Index
(RSI)
indicator’s
higher
high
during
the
same
period.
This
development
is
termed
a
bullish
divergence
and
often
leads
to
the
reversal
of
the
trend
or
a
short-term
rally.

If
this
support
holds,
NEAR
could

rally
roughly
14%
from
the
current
level
of
$5
to
$5.74,
the
previous
weekly
resistance.

If
the
bulls
are
aggressive,
the
overall
crypto
outlook
is
positive
and
NEAR
closes
above 
$5.74.
It
could
extend
an
additional
10%
rally
to
its
daily
resistance
level
at
$6.36.

NEAR/USDT
daily
chart

However,
if
NEAR’s
daily

candlestick
closes
below
$4.04 
and
establishes
a
lower
low
on
the
daily
timeframe,
it
may
signal
a
shift
in
market
dynamics
that
favors
bearish
sentiment.
Such
a
change
could
nullify
the

bullish
outlook,
leading
to
a
10%
crash
in
NEAR’s
price
to
retest
the
low
of
March
5
at
$3.55.