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**NEAR Protocol (NEAR) Price: Breakout Setup Emerges as Bulls Eye $3.65 Target**
A potential breakout setup has emerged for NEAR Protocol (NEAR), indicating a strong opportunity for bulls to target $3.65.
Following a nearly 5% drop in the last 24 hours, largely due to the market reaction to Bitcoin’s decline, NEAR has begun testing the upper resistance of a descending channel pattern. This technical setup often precedes bullish breakouts when combined with increasing buying pressure near the resistance zones.
As shown in the chart analysis, NEAR has demonstrated recovery potential during a one-hour period on July 1st, rising from $2.08 to $2.10 and forming an upward channel with higher lows and highs. The price broke above the $2.08 resistance level and quickly established support at $2.09.
A brief pullback occurred before buyers stepped in, pushing the price to a session high of $2.10. This recovery from the mid-session dip confirms underlying demand and suggests potential for continued upward movement.
The recent trading data shows an upward channel formation with higher lows and highs, indicating possible further upward momentum.
Source: coincentral.com
