NEAR Protocol's token extended its sharp rally, rising more than 10% over 24 hours to trade near the $5.50 range. According to CoinMarketCap data, NEAR broke out of a $4.76-$5.17 consolidation range with a single one-hour push through the $5.34 level, moving into a higher price zone while other large-cap altcoins such as LINK and AVAX fell by over 5%.
The surge follows the launch of Bitwise's NEAR ETF on NYSE Arca under the ticker NRR. Bitwise reported $35.5 million in first-day net inflows and $13.2 million on the second day, pushing the fund's assets under management to $52.8 million. Second-day trading volume reached $20.1 million. Santiment Intelligence noted that coin-denominated open interest had already declined from a September 21 peak of about 215 million NEAR to roughly 169 million on launch day, suggesting that spot buyers entered while leverage was lighter.
The token rallied approximately 86% from September 16 to September 29 after starting near the $1.80-$2.00 area in late August. Analyst Michael van de Poppe said NEAR had broken upward again and was moving toward a new high. Technical levels now place resistance at $5.50-$6.20, with a break opening potential targets of $7.40-$9.00 and later $10-$12. Support is being watched around $5.17, with $5.00 as a retest level if that floor is lost. Analysts also highlighted $3.80-$4.30 as a key support zone, while a move below $3.00 could shift attention to $2.70-$3.30. Momentum indicators remained constructive, with RSI at 60.11 and MACD above its signal line.
