NEAR Protocol's Double Bottom Pattern Targets $8 by July 29 2025

NEAR Protocol has demonstrated a confirmed double bottom pattern on its price chart, signaling a potential bullish reversal and a $8 price target by July 29, 2025, according to recent technical analysis [1]. The cryptocurrency has rebounded from a key support level near $1.78 twice, forming a "W" pattern that indicates a shift from a bearish downtrend to an uptrend. This structure is often associated with strong buying pressure at established support levels, suggesting increased institutional or retail interest in NEAR. The current price of $2.93 reinforces the pattern’s validity, with momentum indicators like the Relative Strength Index (RSI) showing rising bullish momentum [1].

The double bottom pattern requires confirmation once the price breaks above the neckline resistance, which for NEAR aligns with the $1.70 level [1]. However, analysts highlight that the $8 target—derived from the pattern’s depth—is a more optimistic scenario, assuming sustained volume surges and sustained price action above $2.93. A failure to surpass $1.70 could invalidate the pattern, while a successful breakout would likely trigger a rally toward $8. Traders are closely monitoring volume metrics to validate the pattern’s integrity, as a surge in trading activity during the breakout would strengthen the case for the $8 target [1].

Fundamental data further supports NEAR’s bullish case. Over 583 million NEAR tokens are staked in the network, generating an attractive 9.5% annual percentage yield (APY) for holders [1]. This high staking participation reflects confidence in the ecosystem and reduces circulating supply, potentially stabilizing the price. Additionally, 300 active validators ensure decentralization and network security, which are critical for long-term adoption [1]. The combination of technical strength and robust fundamentals positions NEAR as a compelling asset for investors seeking exposure to a project with both short-term momentum and structural growth.

While the $8 target is widely cited, a separate analysis from another source suggests a more conservative $1.70 price level by July 29, 2025 [2]. This discrepancy arises from differing interpretations of the double bottom pattern’s depth and broader market conditions. The $1.70 forecast assumes a continuation pattern rather than a full reversal, emphasizing the need for traders to balance technical signals with macroeconomic factors [2]. Investors are advised to monitor whether the price sustains above $1.70, as a retest of this level as support would provide additional confirmation for either scenario [2].

Risks remain, including the possibility of a false breakout or prolonged consolidation. A temporary spike above $1.70 followed by a reversal could erode confidence in the pattern, while extended sideways movement may weaken its predictive power [1]. To mitigate downside risk, traders are urged to set stop-loss orders below the double bottom’s trough. Meanwhile, the broader market environment—such as macroeconomic trends and regulatory developments—could influence NEAR’s trajectory, underscoring the importance of a diversified risk management strategy [2].

NEAR’s technical and fundamental alignment suggests a strong case for upward momentum. The double bottom pattern, supported by staking incentives and validator activity, creates a favorable environment for price appreciation. Investors tracking the July 29 target should focus on key resistance levels and volume dynamics to gauge the pattern’s evolution.

Source: [1] [NEAR Shows Potential Bullish Momentum After Double Bottom, $8 Target Possible July 29, 2025] [https://en.coinotag.com/near-shows-potential-bullish-momentum-after-double-bottom-8-target-possible/], [2] [NEAR Shows Potential Bullish Momentum After Double Bottom, $8 Target Possible July 29, 2025] [https://m.economictimes.com/crypto-news-today-live-28-jul-2025/liveblog/122939448.cms]