NEAR Protocol (NEAR) has extended its decline this week, falling to a key support zone between $2.20 and $2.40, a level that has repeatedly attracted buyer interest and could determine the token's next major price move. Analysts argue this pullback may set up a significant turning point, with the reaction at this support being crucial for future direction.
Michaël van de Poppe highlighted a disconnect between NEAR's strong fundamentals—including rising network activity and revenue—and its recent price action, which saw intraday lows near $2.30. He described the drop as a massive opportunity for accumulation, noting that the ecosystem's momentum in AI infrastructure and developer tools remains robust. Technical indicators on TradingView show heavy volatility, with MACD momentum still negative but edging upward and RSI touching oversold territory earlier in the day, suggesting potential market exhaustion.
Other traders, such as Crypto Haque and Crypto Knight, are accumulating NEAR in the $1.90–$2.40 range, citing similarities to previous patterns that sparked rallies. If support holds, initial targets include $3.40, with breakout potentials toward $5.80 and $8, based on historical resistance levels. However, NEAR faces a clear resistance band at $3.20–$3.60, which has capped rallies since summer, and a clean reclaim above $2.50 would signal buyer re-entry.
The broader market context, including Bitcoin's stabilization, is critical, as assets like NEAR often lead recoveries. Analysts agree that the next move from this zone could be explosive, with traders closely watching for signs of a breakout or deeper retest.
