In February, NEAR Protocol hinted at the start of a bearish trend, but this soon faded and price action shifted into a sideways range without major movement. While leading cryptocurrencies such as Ethereum have already set new all-time highs, NEAR has remained relatively flat.

From a technical standpoint, however, a potential buying opportunity is beginning to form. The target of interest lies at last year’s high, which could represent an appreciation of nearly 230% from current levels.

Near Protocol technical analysis

NEARUSD - 1 Day Time Frame

Understanding the role of liquidity is a critical part of any trading framework. When a cryptocurrency trades sideways for an extended period, liquidity tends to build up, and it becomes even more important to wait for that liquidity to be swept before entering a position. Without this step, Stop Loss orders could be triggered prematurely.

For NEAR, a Sell-Side Liquidity sweep has already taken place, followed by a strong upward move of more than 20%. This has established a confirmation support zone in the market, highlighted in blue on the attached chart.

Near Protocol price target

The setup can therefore be viewed in two parts: the initial liquidity sweep and the formation of a support zone. A protective Stop Loss could be considered below the internal low shown on the chart. Conversely, if price closes below the highlighted support zone on the daily timeframe, it may be prudent to consider partially closing the position early, as ideally this support could hold for the setup to remain valid.

On the upside, targets may align with Buy-Side Liquidity levels, with the final target corresponding to last year’s high. Several intermediate Take Profit levels are also available, allowing for partial gains to be secured while reducing overall risk as price progresses toward the top target.