NEAR Protocol (NEAR) Is Catching the Attention of Crypto Investors This Week as Technical Patterns and On-Chain Activity Point Toward a Potential Breakout

After weeks of price consolidation, NEAR may be setting up for a bullish move that could push the token up by as much as 15%, according to analysts

NEAR Protocol (CRYPTO: NEAR) has been a hot topic among crypto investors this week as technical setups and on-chain activity hint at a potential breakout for the token.

After weeks of price consolidation and a noticeable drop in trading volume, NEAR may be setting up for a bullish move that could push the token up by as much as 15%, according to analysts tracking recent momentum shifts.

Here's a breakdown of the key technical and social trends that are unfolding:

A Classic Bullish Pattern Appears on the Charts

NEAR’s price chart has formed an inverse head-and-shoulders pattern, a structure often associated with bullish reversals in technical analysis. This setup consists of three dips, with the middle one (the “head”) being the lowest and the other two (“shoulders”) slightly higher.

The neckline—the key resistance level—sits just above $2.14, which is the apex of the "head" formation.

If NEAR can break and close above this resistance line with strong trading volume, technical projections suggest a potential price target of $2.43, which is calculated using standard Fibonacci extensions from the pattern. From current levels around $2.12, a move to $2.43 would represent a 14.8% gain.

However, chart patterns like this require confirmation. Without a spike in volume or broader market support, the breakout may fail to materialize, and the setup could weaken.

Short Liquidations Provide a Hidden Boost

Beyond technical indicators, liquidation data also paints a bullish picture. In recent sessions, short liquidations—traders betting on a price drop—totaled $31.42K, far outpacing long liquidations, which were only $10.46K. The majority of these liquidations occurred on Binance (CRYPTO:BNB), suggesting many traders were caught off guard by NEAR’s upward movement.

When short positions are liquidated, traders are forced to buy back the asset, which can create sudden upward price pressure. This “short squeeze” effect is often a key driver during early breakout phases and may explain part of NEAR’s recent price action.

Retail Interest and Social Buzz Picking Up

NEAR is also beginning to see an uptick in social media mentions, signaling rising interest from the broader crypto community. According to blockchain analytics firm Santiment, NEAR’s social volume and social dominance have reached their highest levels in recent weeks.

Although still moderate compared to top-tier tokens, this increase suggests that retail investors are starting to pay more attention to NEAR.

If the bullish breakout plays out, social chatter and Fear of Missing Out (FOMO) could accelerate the move as more traders jump in.

Developer Activity Slows But Stays Strong

While price action and investor activity are trending positively, NEAR’s developer activity has cooled slightly. Recent data shows the protocol’s development score dipped from 27.68 to 19.48.

This decline is not unusual, especially after major updates or periods of intense coding activity. Despite the dip, NEAR remains one of the more actively maintained blockchain projects, which can be a reassuring factor for long-term investors.

What Comes Next for NEAR?

Overall, NEAR Protocol appears to be at a critical turning point. The combination of a bullish chart setup, rising short liquidations, and growing community engagement gives it the tools needed for a rally.

Breaking the $2.14 resistance with convincing volume will be crucial for technical traders. If that happens, NEAR could quickly climb toward the $2.40–$2.45 range, which is the fib 1.618 level.

Failing to break through could see the token retreat back to lower support zones near $2.06 or $1.95, both of which are fib support levels.

For now, NEAR remains a token to watch closely as both technical traders and retail investors await its next move.