Date: Sun, June 29, 2025 | 07:07 AM GMT
The cryptocurrency market is continuing its steady recovery following easing tensions between Israel and Iran. Ethereum (ETH) has bounced sharply, climbing from a recent low of $2,113 to nearly $2,425 — reviving bullish momentum across the market.
Among altcoins , Near Protocol (NEAR) is also back on the green track, and a potential bullish setup is quietly forming under the radar. The token is now flashing a fractal pattern that closely resembles the recent breakout move seen in SEI — hinting that a major upside move could be just around the corner.
Source: Coinmarketcap
NEAR Mirrors SEI’s Breakout Move
A side-by-side comparison of SEI and NEAR on the daily chart reveals a nearly identical setup. Earlier this month, SEI was trading inside a falling wedge pattern — a classic reversal formation. After weeks of compression, it broke above the wedge and the 100-day moving average (MA), resulting in a powerful 76% surge that carried it well above its 200-day MA.
Now, NEAR seems to be following the same script.
The token is also consolidating inside a falling wedge, testing the pattern’s resistance just beneath the 100-day MA (currently at $2.48). This is exactly the phase SEI was in before its explosive move higher — making NEAR’s current structure worth watching closely.
What’s Next for NEAR?
If NEAR can break above the falling wedge and close above its 100-day MA, it may set the stage for a sharp move upward — with the $3.37 level (200-day MA) as the next major target. Such a breakout could mirror SEI’s move, potentially delivering 50–60% upside from current levels.
That said, bulls need to stay cautious. If NEAR fails to push through resistance and falls back below the wedge, it may signal further consolidation or even a delay in bullish continuation.
