Will NEAR hit $20 again? Watch out for THESE levels

• A trendline break positioned NEAR for a $20 all-time high comeback.
• Surging volume and fees boosted NEAR’s momentum.

NEAR Protocol [NEAR] is quickly emerging as a standout player in the blockchain ecosystem, leaving competitors like Solana trailing in technology and user adoption. 

NEAR is setting itself apart with cutting-edge innovations, such as its sharding technology, making it one of the most scalable blockchains available.

With the full backing of NVIDIA, the world’s third-largest company, NEAR is positioning itself as a potential “right-hand” to Ethereum. It bridges the gap between scalability, innovation, and real-world application.

Currently trading at $6.69, up 3.11% in the past 24 hours, NEAR boasts a 24-hour volume of $930.76 million.

While still 68.08% below its all-time high of $20.42 from January 2022, the protocol’s advancements and market traction suggest significant upside potential.

With its growing ecosystem and increasing relevance in AI-driven applications, analysts speculate NEAR could achieve exponential growth, delivering returns of up to 15x as adoption accelerates.

Key support and resistance levels 

An AmbCrypto analysis of NEAR on the weekly timeframe highlights significant technical levels and trends. The primary resistance zone is $20.00, corresponding to the previous all-time high in early 2022.

The downward trendline indicates a long-term bearish trend that NEAR recently broke, suggesting a shift toward bullish momentum.

However, the current price of $6.69 is trading below the immediate resistance zone near $8.00. This aligns with recent price consolidation and selling pressure.

Source: TradingView

On the downside, strong support is evident near $6.00, just below the current price. This level coincides with previous resistance-turned-support, providing a key foundation for further bullish moves.

Below this, additional support exists around $4.00 and a critical long-term support zone near $1.50, which aligns with historical lows.

A successful breakout above $8.00 could pave the way for a retest of $20.00. Failure to hold $6.00 may lead to a deeper correction toward $4.00 or even $1.50.

Momentum indicators signal reversal 

The Supertrend indicator shows a bearish bias, with resistance at $7.306. The price has recently bounced off lower levels near $6.57 and is now testing the lower edge of the bearish Supertrend zone, indicating potential resistance at this level.

A sustained break above $7.306 could signal a shift toward bullish momentum. However, for now, the bearish pressure persists.

Source: TradingView

The True Strength Index remains in negative territory, with values at -23.18 (signal line) and -26.32 (momentum line).  This indicates continued downward momentum, though the narrowing gap between the lines suggests that bearish momentum is weakening.

 Additionally, the Accumulation/Distribution Line is at 18.86M, showing mild accumulation after recent declines.

Surge in NEAR’s volume and fees 

The volume (green) began with moderate activity in mid-November but started climbing significantly toward the end of the month, peaking in early December.

This upward trend reflects growing network activity, likely driven by heightened interest in NEAR’s scalability and ecosystem developments.

Notably, the daily volume reached peaks exceeding $18 million, demonstrating strong adoption and engagement on the platform.

Source: Defillama

Transaction fees (red) followed a similar trajectory, steadily increasing alongside volume. This indicates more on-chain interactions and a surge in user activity. 

The alignment between volume and fees shows healthy network usage, as fees are directly tied to transactional demand.

Short and long Liquidations build… 

An analysis of the NEAR liquidation map reveals critical insights into leveraged positions and potential market volatility. Around the current price, significant liquidation levels are concentrated, with long positions (green) showing heightened vulnerability.

Cumulative long liquidations rose sharply from $6.45, peaking near $6.67, where over $9 million in value is at risk. This reflects a strong bullish bias, with traders leveraging long positions in anticipation of upward momentum.

Source: Coinglass

On the short side (red), liquidations steadily declined as prices exceeded $6.45, tapering off near $6.83. There is a lower concentration of leveraged bearish positions than long positions. 

Read NEAR Protocol’s [NEAR] Price Prediction 2024–2025

This dynamic highlights a precarious balance between bulls and bears, where a breakout in either direction could trigger a cascade of liquidations, fueling heightened volatility in the short term.