NEAR rallies, then stalls as resistance caps momentum
NEAR briefly showed strength on Monday, rising as much as 5.7% to $1.73 before sellers stepped in and erased most of the gains. The move came on moderately elevated volume but failed to keep pace with the broader crypto market, raising questions about the durability of the rally.
The initial push higher followed the U.S. market open, with NEAR breaking away from session lows and attracting increased activity. Volume climbed roughly 47% above its 30-day average, signaling renewed interest. However, the buying lacked the sustained intensity typically associated with trend reversals or institutional accumulation.
Price action ultimately stalled at the $1.73 – $1.74 zone, where repeated intraday rejections appeared. A clear rejection near $1.736 marked the top of the move, after which sell pressure pushed NEAR back toward the $1.68–$1.70 area.
From a technical perspective, the session reinforced a range-bound structure. Strong support has formed around $1.66–$1.67 following a high-volume reversal earlier in the day, while resistance remains firmly defined between $1.73 and $1.76. Despite the pullback, NEAR did manage to print higher lows after the mid-session bounce, suggesting accumulation interest near the lower end of the range.
That said, NEAR underperformed the broader CD5 crypto index, indicating that the move was driven more by token-specific flows than sector-wide momentum. Without a decisive volume expansion and a sustained close above resistance, the market is likely to remain in consolidation.
For now, NEAR appears caught between improving short-term structure and persistent overhead supply. A confirmed breakout above $1.74 would require significantly stronger participation, while a failure to hold support could open the door for a rotation back toward the $1.66 area.
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