NEAR Price Surges 6.7% as Altcoin Momentum Builds Post-Bitcoin ATH

NEAR Protocol (NEAR) rallied 6.7% in the past 24 hours, climbing from $2.55 to $2.66, as market optimism grows around a potential altcoin season following Bitcoin’s surge to a record high of $123,000. The move marked a 7% intraday trading range, with price action supported by renewed buying interest in the broader crypto market.

The upward momentum was triggered by a decisive breakout above $2.62, shortly after support held firm at $2.51 during the early hours of Monday. NEAR's price then rose sharply to $2.69 within four hours, confirming a bullish V-shaped reversal pattern backed by a volume spike of 143,188 units.

NEAR remains significantly below its 2024 peak of $9.00, a level reached during the AI token frenzy earlier this year sparked by the popularity of ChatGPT and similar applications. Still, the current technical structure points to growing investor confidence. Key indicators show higher lows forming throughout the recovery phase, and a confirmed breakout above $2.67 suggests continued bullish momentum.

With resistance now shifted to support around $2.62-$2.64, NEAR is eyeing its next targets between $2.70 and $2.72. If this range is breached, further upside could be unlocked, reinforcing NEAR’s role as a top altcoin to watch amid the broader crypto rally.

As altcoins start to awaken in the wake of Bitcoin’s historic rise, traders are closely monitoring NEAR for its relative strength and potential for outsized gains in the weeks ahead.