NEAR Extends Rally After Bullish Breakout, Targeting $3.00 Resistance

NEAR cemented itself as one of the best performing altcoins this week, confirming a bullish breakout above the $2.72 level of resistance as it continues its ascent to $3.00.

The move comes across wider altcoin market strength as capital rotates from BTC to more speculative bets like NEAR.

THE AI sector is also outperforming other sectors, rising to a $33.64 billion market valuation with 6.61% intraday appreciation.

If NEAR can break above $3.00 it would initially target $3.32 as the last line of resistance before a parabolic move to the upside.

Primary Technical Metrics

• NEAR operated within a comprehensive range of $0.19 (7% of the opening price) spanning from a floor of $2.64 to a ceiling of $2.83.
• The digital asset experienced an early rally to $2.74 by 16:00, subsequently maintaining upward trajectory to achieve the session's pinnacle of $2.83 on 17 July at 10:00.
• Robust volume activity reaching 4.40 million units reinforced the price advancement.
• Critical support levels crystallized within the $2.67-$2.69 corridor where the price discovered consistent buying momentum across multiple instances.
• Resistance barriers formed near the $2.81-$2.83 territory where distribution pressure gained traction.
• The trading period finalized at $2.79, marking a substantial 5% advancement from the initial price point.
• Volume increases surpassing 100,000 units materialized during the concluding recovery phase at 12:30.
• Successive resistance barriers were penetrated at $2.78, $2.79, and $2.80 throughout the final hour.

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