NEAR Protocol Faces short-term pressure after failing to hold above $5.50, but if it can maintain a range between $3.60 and $4, the overall bullish repair structure may still be preserved.
At the same time, online activity has enhanced the long-term outlook; if it manages to regain the level of $6.20, $8.15 could become a focus of attention.
NEAR Protocol The price has been consolidating between $5 and $5.50 in the past few weeks, followed by a noticeable decline. The token saw a rapid rise in September but lost momentum near the upper range of that range. The latest round of pullbacks brought the price back down to $4.65, drawing market attention back to the breakout area below. Despite the consolidation in price, network activity has remained at a high level, which provides support for a bullish trend.
NEAR Price tests key support after encountering resistance
The daily chart shows that NEAR rebounded strongly from below $2 in August to above $5 in September, after which it entered a consolidation phase. The price tested the $5 to $5.50 range several times but was unable to remain above that range. This decline is particularly noteworthy because it occurred after a longer period of consolidation, rather than following a rapid rally.
During the recent upward trend, trading activity also increased, and the number of open contracts once rose to around 50 million US dollars before falling sharply to 38 million US dollars. This indicates that some of the leverage accumulated during the upward movement was cleared from the market. In addition, the funding rate has also decreased, reducing the risk of excessive congestion in long trades. Therefore, the area that currently requires close attention is between 3.60 and 4 US dollars, a range that previously served as a resistance level before price breaks upwards.
Rising online activity may provide support for the price of NEAR.
During the price correction, the activity on the NEAR network is improving, with a significant increase in the number of daily active users. This metric has risen from 110,000 in September to nearly 257,000, reversing most of the decline seen over the previous 90 days.
The increase in online activity provides a stronger fundamental backdrop for this token. If online activity continues to grow and the price can hold above the main support levels, then the current weak trend may ultimately just be a reset, rather than a break in the trend.
Key price levels to watch
- $6 to $6.20 – Major resistance levels
- $5 to $5.50 – the previous consolidation range
- $4.60 to $4.65 – Current real-time price range
- $3.60 to $4 – Key support and breakout backtesting range
- $3 – the next downward target if support is lost
- $6.50 to $7 – the confirmed upward target after the fix
- $8.15 – the main target for longer time periods
NEAR Price Forecast: Can the bulls regain $5?
NEAR has recently turned cautious after facing significant resistance, but if the buying pressure can stabilize around $4.60 and return above $5, the bullish outlook still exists. If it can re-establish itself above $5.50, that would strengthen the recovery momentum and make the resistance range of $6 to $6.20 a focal point again. To reach $8, a stronger recovery than a quick rebound is needed, and regaining levels above $6.50 to $7 is a necessary condition.
