NEAR Price Could Reach New Highs in June as Bullish Pattern Emerges NEAR Protocol has bounced from a historically important support area, reigniting a chart pattern that previously led to massive gains. In past cycles, similar setups preceded price surges of 2,375% and 900%. The cryptocurrency recently found strong buying interest at a zone that has acted as a floor multiple times before. This level, often referred to as a key historical support, has proven reliable for traders and long-term holders. The rebound from this area is now drawing attention because it mirrors a fractal that played out in earlier market cycles. A fractal, in trading, refers to a recurring pattern that investors expect to repeat due to its historical accuracy. In NEAR’s case, two distinct fractals are being observed. The first one occurred in 2021, when NEAR price consolidated above the same support zone before breaking out and rallying by 2,375%. The second fractal took place in late 2023, when a similar bounce preceded a 900% increase to its current all-time high. Current price action shows NEAR is attempting to replicate this pattern. The token has risen from the support level and is now testing higher resistance zones. Technical analysts are watching for a sustained move above the $8 to $10 range, which could confirm the bullish continuation. If the historical pattern holds, NEAR could target new highs in the coming weeks, potentially reaching levels above $15 or even $20 by June. Market sentiment is also supportive. Increased trading volume and positive on-chain metrics, such as rising active addresses and total value locked in NEAR’s ecosystem, indicate growing confidence. The broader crypto market, currently in a recovery phase, adds tailwinds for altcoins like NEAR. However, traders should remain cautious. While past patterns are encouraging, they are not guarantees. External factors like regulatory changes or a sudden market downturn could disrupt the rally. Some analysts suggest that a failure to break above the $10 resistance could lead to a retest of the support zone, delaying the breakout. In summary, NEAR is showing signs of a strong recovery from a critical support area. The repeating fractal pattern offers a compelling narrative for a potential run to new highs in June. But as always, investors should manage risk and watch for confirmation before committing capital. The coming weeks will be decisive for whether this bullish setup plays out as it has before.
