NEAR Protocol Tests Long-Term Support as Triangle Pattern Nears NEAR Protocol is approaching a critical juncture, with its multiyear structure tightening toward a decision point that could determine the token’s long-term trajectory. The current pattern resembles a maturing contracting triangle, a formation that typically concludes with a sharp directional break.
The price has continued to drift toward the lower boundary of the structure, which has been respected since early 2021. This trendline now sits near the 0.786 retracement level at $1.449, a key support region that has emerged as the focal point for Wave D. If buyers defend this area, the broader triangle count remains intact and would set the stage for a final Wave E rebound into the $3.62 to $6.14 retracement cluster. Within that region, the 0.618 level at $4.5049 stands out as the midpoint target for a corrective lift before the pattern compresses fully.
The larger bullish alternative suggests that NEAR may already be completing an extended Wave 2. A sustained hold above the lower support line would allow for the possibility of a substantial Wave 3 advance. The projected target for this alternative scenario lies far above current levels, near $74.03, which corresponds to a major Fibonacci extension and would imply a powerful long-term trend reversal.
However, the stakes are high. A breakdown beneath the triangle’s lower boundary would invalidate the structure entirely and signal that the market is shifting into a deeper corrective phase. The chart marks an invalidation level beneath the broader support zone, and a decisive breach could accelerate losses toward sub-dollar territory, potentially revisiting levels not seen since the earliest stages of the token’s history.
For now, NEAR trades at the midpoint between risk and opportunity. The structure is tightening, momentum indicators show oversold conditions, and the price is resting on a multi-year support line. Whether this zone marks the foundation for a major turnaround or the start of a prolonged decline will depend on how price behaves around the crucial $1.449 region as the triangle nears its conclusion.
