NEAR Protocol Price Action Shows Promising Elliott Wave Chart Targets

The NEAR Protocol's price has been outperforming many altcoins in the short term, with its chart structure showing promise for further gains.

According to analysts, the 4-hour NEAR/USD chart on Binance shows Fibonacci levels that indicate potential resistance at $2.50, $2.65, and $2.86.

The internal wave structure of the price action looks textbook, with a clean advance through the $2.00 zone. However, there is still a risk of a wave 4 correction, which could bring the price down to the support band between $1.57 and $1.99.

As long as the price stays above $1.57, the local uptrend remains intact, and the targets at $2.50, $2.65, and $2.86 remain in play.