NEAR Protocol (NEAR) has surged more than 20% in the past 24 hours, extending weekly gains beyond 40% amid improving cryptocurrency market sentiment. Could bullish momentum remain solid?

On January 1, NEAR Protocol (NEAR) was attempting to stabilize above the 1.50 support zone, with 1.60 identified as the key pivot that needed to be reclaimed for any meaningful recovery toward 1.80 and potentially 2.00. Since then, the broader structure deteriorated through January and February as sustained selling pressure pushed price well below those previously defended levels. However, recent price action suggests a potential shift in short-term momentum.

NEAR Protocol (NEAR) technical analysis

NEARUSD - 1 Day Time Frame

NEAR has surged more than 20% in the past 24 hours, extending weekly gains beyond 40% amid improving cryptocurrency market sentiment. Price is now trading around $1.34, approaching the important $1.40 support/resistance (S/R) level.

This zone previously acted as support in late 2025 and early January 2026 but has since transitioned into resistance following the breakdown earlier this year. The current rally is effectively a retest of that prior support from below.

A decisive close and sustained acceptance above $1.40 would mark a meaningful structural improvement. Such a move would suggest that buyers are reclaiming lost ground and could open the path toward the next major resistance near $1.80, which previously functioned as both support and resistance and remains a technically significant supply area.

Below current price, immediate support is layered around $1.10–$1.09, where recent consolidation formed a short-term base. This zone has absorbed selling pressure multiple times in February and now serves as the first structural floor.

NEAR Protocol (NEAR) price target

The current rally places NEAR at a technically sensitive inflection point. A confirmed break above $1.40 would shift short-term structure from reactive bounce to potential recovery phase, increasing the probability of a move toward $1.80.

However, failure to secure acceptance above $1.40 could result in renewed consolidation between resistance and the $1.10 support zone. A loss of $1.09 would weaken the recovery attempt and reintroduce downside risk.

For now, momentum has clearly improved, but NEAR remains below a critical reclaimed level. Price behavior around $1.40 will likely determine whether this surge evolves into a broader trend reversal or remains a relief rally within a still-cautious higher timeframe structure.