NEAR Protocol is undergoing a technical analysis on a daily timeframe, indicating a potential upward trajectory. Following a bearish performance in 2025, NEAR has initiated 2026 with a positive surge, currently trading at $1.838. The analysis suggests a forthcoming breakout from its current price range, with a projected target price of $8.431. This bullish thesis is underpinned by a proprietary valuation model signaling undervaluation and a strong buy opportunity. The critical invalidation level for this short-term bullish outlook is positioned at $1.431. Broader market indicators corroborate a highly bullish sentiment for the crypto space in 2026. USDT Dominance, currently at 6.07%, is anticipated to experience a significant decline to a target of 3.2%, which typically precedes a surge in altcoin valuations. Conversely, Bitcoin Dominance, currently at 59.2%, is expected to recede to 35%, signaling an impending altcoin season. The total crypto market capitalization is currently at $3.08 trillion, with a target of $5.9 trillion, contingent on maintaining above $2.08 trillion. Similarly, the total altcoin market capitalization, excluding Bitcoin, stands at $1.26 trillion, with a target of $2.3 trillion, provided it holds above $1.05 trillion. These confluence of factors points to a robust and sustained bullish trend across the cryptocurrency market, particularly favoring altcoins like NEAR Protocol, over the course of 2026.