Is this the bottom? Near Protocol bulls step up at $2

NEAR Protocol is hovering just above the psychological $2 support, with price showing early signs of strength after a prolonged downtrend. A reclaim of $2.80 as support could confirm that the bottom is in.

NEAR Protocol (NEAR) price is currently trading at just above $2 — a historical support zone where it consolidated in December 2023, before it broke into a rally that sent it to $4.6. It looks like bulls are defending the $1.90 – $2.00 support zone because when the price briefly dipped below it during intraday dips on April 8, 9, and 10, bulls stepped in to push it back up and it closed above $1.90.

NEAR price action also continues to edge towards the 20-day EMA ($2.24). NEAR last attempted to reclaim this level in late March, and it’s been trading within close range ever since.

Adding to this, the MACD histogram is almost flat, and although the MACD line remains below the signal line, the gap has narrowed considerably. This often precedes a bullish crossover, which could serve as a momentum confirmation trigger for short-term bulls, especially if the price breaks above the 20-day EMA.

The %K line on the Stochastic indicator has also crossed above the %D line while both were in oversold territory, a classic early bullish reversal signal. If this upward crossover holds and the oscillator continues to rise above the 30 level— especially combined with a break above the 20-day EMA — it would further validate a bullish momentum shift.

To sump up, for NEAR bulls to regain control, the first step is a break and close above the 20-day EMA (~$2.24). If this happens with a volume spike, it opens up a path to retest the $2.60–$2.80 resistance zone, which coincides with the 50-day SMA ($2.59).

Looking ahead, if $2.80 is reclaimed and held as support, crypto analyst @NDKrypto says it will be a signal that NEAR price has printed bottom.