Near Protocol Breaks Out From Wedge Pattern: Why This Could Trigger A 37% Crash

Near Protocol Breaks Out From Wedge Pattern: Why This Could Trigger A 37% Crash


Near Protocol has had a good year in 2024 so far and has continued to hold up quite nicely despite the multiple crashes that have rocked the market. However, it seems that the altcoin may have exhausted its runway, as a crypto analyst believes its earlier breakout is very bearish for the price.

Near Protocol Breaks Out Of Wedge Pattern

At the start of the month of May, the Near Protocol price had formed a wedge pattern after falling to $5.5 and then recovering slightly. This wedge pattern would hold its price in a tight range for a while. However, by the middle of the month, the Near Protocol price broke out of the wedge pattern and began a move upward.

Following the breakout, the

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