The Near Protocol price has been demonstrating acute strength ever since the token rebounded from the monthly lows below $5. In times when the selling pressure was mounting over the majority of the tokens, the NEAR price managed to stabilize within a narrow range, preventing excessive loss. The bulls are displaying huge strength at the moment, due to which the rally has been stuck between $5 and $5.3 for the past few days. 

The price was trading within an ascending triangle and instead of triggering a breakout from the apex, it underwent a 40% pullback. While the long-term price action of Bitcoin has turned bearish, the NEAR price remains under the bullish influence. The price undergoes a correction after reaching the upper threshold of a pattern. Therefore, the price is expected to kick off a fresh ascending trend and reach the upper resistance zone. 

While the short-term trade has flipped the bearish pressure, the weekly trade has also shown signs of a bullish reversal. The rally was rising within a rising wedge and as a result, this caused a 35% pullback and, before marking the lower crucial range at $4.5, triggered a strong rebound. Besides, the weekly RSI has also initiated a bullish reversal, which suggests the bullish forces have regained their strength. Therefore, the NEAR price is expected to maintain a healthy ascending trend. 

The weekly trade has begun on a bullish note and hence the upcoming monthly close is expected to be on a positive note. The price is closely accumulating within a range and hence a breakout may occur, pushing the prices above $6 very soon. However, before the end of the month, the Near Protocol price is believed to stand strongly above $5.5 after experiencing a minor correction. 

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