NEAR Protocol has extended its recovery, gaining 12.59% over the past 24 hours as renewed buying interest lifted the token above $5.20. NEAR traded around $5.216 on October 16, following a rebound from the $4.55–$4.60 support zone. Its seven-day gain reached 10.82%, while daily trading volume climbed above $1.24 billion.
The token’s monthly performance has been especially strong, doubling in one month and outperforming Bitcoin by 15 times over that period. Despite the rally, NEAR faces resistance near the $6 level, while shorter-term bulls are targeting resistance at $5.267–$5.359.
Derivatives market activity has surged alongside the price move. Open interest climbed above $1.5 billion, signaling heightened speculative interest. However, spot outflows reached $1.59 million, and overbought signals raised the risk of a pullback. On the four-hour chart, NEAR’s momentum improved after the cryptocurrency recovered above its 20-, 50-, and 100-period exponential moving averages.
Growing cross-chain adoption supports NEAR’s longer-term outlook, even as traders weigh short-term overbought conditions and persistent spot outflows.
