Date: Thu, Sept 11, 2025 | 10:00 AM GMT
The cryptocurrency market is showing strength amid the anticipated potential US Federal Reserve rate cuts, with Ethereum (ETH) holding firm at $4,400. Following this resilience, several major altcoins are beginning to show upside potential — including the AI token Near Protocol (NEAR).
NEAR has turned bullish with an impressive 13% gain over the past week. More importantly, its price chart is flashing a key harmonic structure that could hint at a larger upside move in the coming weeks.
Source: Coinmarketcap
Harmonic Pattern Hints at Potential Upside
On the daily chart, NEAR has formed a Bearish Butterfly harmonic pattern. Despite its bearish name, this setup often sees a bullish continuation during the CD leg, as price advances toward the Potential Reversal Zone (PRZ).
The pattern began at Point X ($3.381), dropped to Point A, rallied to Point B, and retraced to Point C near $2.277. From there, NEAR has resumed its upward move and is now trading around $2.72, showing upside resilience.
Near Protocol (NEAR) Daily Chart/Coinsprobe (Source: Tradingview)
A notable development is NEAR’s successful reclaim of the 200-day moving average ($2.559). This level now acts as a strong support base, reinforcing the bullish case for continuation.
What’s Next for NEAR?
If bulls manage to hold above the 200-day MA, NEAR could extend higher toward the PRZ zone between $3.812 (1.272 Fibonacci extension) and $4.361 (1.618 extension). These levels mark the potential completion of the Butterfly structure and represent the next upside targets.
With NEAR holding above support and momentum building, traders will be closely watching if the token can sustain this trajectory toward the projected targets.
