NEAR climbs 5.7% to reach $1.73, then retreats from its earlier increase

NEAR Token Sees Volatility After U.S. Market Opens

Following the opening of the U.S. markets at 2:30PM UTC, the AI-related cryptocurrency NEAR surged by 5.7%, reaching a high of $1.73. However, this upward movement was quickly met with significant selling, causing the price to retreat to $1.68.

Despite the initial spike, trading volume did not reach the levels typically associated with strong, sustainable rallies. This has led traders to question whether the recent price action reflects genuine accumulation or is simply driven by short-term retail interest.

Notably, NEAR's performance lagged behind the broader CD5 crypto benchmark, suggesting that the price movement was driven by unique factors specific to NEAR rather than a sector-wide trend.

Throughout the session, NEAR experienced a turbulent $0.11 price swing, fluctuating between a low of $1.6471 and a failed breakout at $1.7360. The most notable surge in trading activity occurred at 14:00 UTC, with 6.41 million tokens changing hands—an increase of 79% over the 24-hour average of 3.58 million. This spike marked a strong reversal from earlier lows and established a solid support zone between $1.66 and $1.67.

Technical indicators became increasingly important as NEAR attempted, but failed, to break above the $1.72 level in the absence of clear fundamental catalysts. The 47% jump in trading volume points to heightened retail participation rather than significant institutional involvement.

NEAR/USD (TradingView)

Key Technical Insights: NEAR Remains in a Consolidation Phase

Support and Resistance Levels

• Main support is found between $1.66 and $1.67, coinciding with the 14:00 UTC volume reversal.
• Immediate support sits at $1.710 to $1.712, near the session's closing range.
• Resistance from a failed breakout is observed at $1.730 to $1.736, marked by rejection at 16:32 UTC.
• The upper boundary of the trading range is capped at $1.74 to $1.76, where multiple intraday rejections occurred.

Volume Trends

• Trading activity over the past 24 hours is up 46.98% compared to the 30-day average, indicating moderate growth.
• The highest volume spike occurred at 14:00 UTC, with 6.41 million tokens traded—79% above the 24-hour simple moving average.
• At 16:33 UTC, a breakout rejection saw volume reach 418,000, which is 368% higher than the typical hourly average.
• Distribution continued at 16:34 UTC, with 434,000 tokens traded, reflecting ongoing selling pressure.

Chart Observations

• NEAR is consolidating within a $0.11 range, representing about 6.5% of its price.
• The inability to break above $1.72 confirms the continuation of the consolidation pattern.
• After 14:00 UTC, the formation of higher lows suggests accumulation at the lower end of the range.
• A rejection candle between 16:32 and 16:33 UTC highlights resistance from larger market participants.

Potential Scenarios and Risk Assessment

• If the consolidation breaks to the downside, prices could revisit the $1.66-$1.67 support area.
• Upside potential remains limited to the $1.730-$1.736 range unless sustained volume exceeds 6.5 million.
• Traders may find opportunities within the current range, buying near $1.67 support and selling near $1.73 resistance.
• A confirmed breakout would require volume to surge more than 80% above average and a close above $1.74.