The price of cryptocurrency $NEAR is testing the resistance level of around $3.00, which becomes a crucial moment for further analysis. User activity on the Near Protocol platform remains high.
Analysis of $NEAR Price Movement
The price of $NEAR has faced multiple rejections at the $3.00 resistance level. According to analyst Crypto Tony, breaking above this mark is significant for future growth.
His forecast indicates that price increases may signal a potential breakout, opening opportunities for traders.
User Activity on Near Protocol
User activity on Near Protocol shows stable growth, with daily active users averaging around 3 million. Returning users make up a significant portion, indicating a high level of retention and trust in the ecosystem.
For example, on June 26, the platform recorded 2.9 million returning users and 280,000 new ones. Distinctive factors supporting growth include the introduction of DeFi solutions from projects like Rhea Finance.
Support and Resistance Levels in $NEAR Movement
The price of $NEAR has fluctuated within a descending channel, with key support at $2.25 and resistance around $4.50. If the price manages to exceed the $2.70 level, this could indicate a move towards the resistance zone around $4.50. A breakout above this resistance could open targets ranging from $5.00 to $6.00. Conversely, failure to hold the support level may lead to further downside risk.
The situation surrounding the price of $NEAR and user activity on the Near Protocol highlights the importance of current support and resistance levels, as they play a key role in the market's future developments.
