NEAR Protocol (NEAR) is exhibiting a bullish fractal pattern on its daily chart, reminiscent of the bottoming pattern seen in Zcash (ZEC) prior to its significant rally. NEAR is currently testing a key support level around $1.90, a critical zone where ZEC previously established a major bottom before its 700% surge.
For NEAR to confirm a trend reversal, it must maintain support above $1.90 and break through the 100-day moving average at $2.56. Success in these areas could see NEAR targeting higher range levels at $3.56, $5.89, and $8.29, following a trajectory similar to ZEC's past breakout. Despite these bullish signals, a confirmed reversal has not yet materialized, and traders are advised to exercise caution.
NEAR Protocol Forms Bullish Fractal, Echoing Zcash's Past Rally
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