NEAR’s Rally Hits Resistance: Is a Pullback Inevitable?

• $NEAR struggles to reclaim support after a 36.94% monthly decline.
• Mixed market signals show bearish pressure despite slight buying activity.
• Falling active addresses increase the risk of further price drops.

Near Protocol— $NEAR, has been struggling to gain momentum, falling 3.80% in the last 24 hours. The price now sits at $3.38, marking a 37% drop over the past month. Investors remain uncertain as mixed signals cloud the market. Some indicators suggest a recovery, while others point to further losses. Can buyers regain control, or will selling pressure push prices lower? A closer look at price trends and sentiment offers some answers.

$NEAR Fights to Reclaim Key Levels

For weeks, $NEAR has struggled between $3.50 and $8.30, forming a consolidation range. A recent dip below $3.50 sent the price lower, raising concerns. However, buyers have attempted to push $NEAR back above this level. If momentum builds, a breakout could follow. But if sellers regain control, a lower high may form before another drop. Resistance levels will play a key role in deciding the next move.

Conflicting Signals Create Uncertainty

Technical indicators reveal a battle between buyers and sellers. A negative Funding Rate of -0.0170 shows that short traders remain dominant. This reading suggests a strong belief in further downside. Liquidation data supports this bearish outlook. In the past 24 hours, long positions worth $137,140 were wiped out.

Short liquidations totaled only $24,170, highlighting an imbalance in market pressure. However, the Taker Buy-Sell Ratio tells a different story. A reading of 1.004 suggests buyers have slightly outpaced sellers. While this shift signals some bullish strength, stronger momentum is needed for a clear breakout.

A sharp decline in active users has placed more strain on $NEAR’s price. Daily active addresses have dropped from 4.2 million to 3.0 million within days. Fewer users often mean lower demand, making a recovery more difficult. Without increased participation, price stability remains uncertain.