$NEAR consolidated between $1.60 and $2.00 for the majority of July and August before momentum began to pick up in September. The token cleared the $2.50–$2.60 range before the pivotal action.
After that, $NEAR shot through $3.00, $4.00, and $4.50 in a matter of sessions, peaking at roughly $4.80. A significant increase in trading activity occurred during the breakout. The rally has drawn significantly more participation than the comparatively calm summer market, as evidenced by the appearance of several of the largest volume bars on the chart alongside the advance.
The trend is still strong
In technical terms, the trend is still very strong. While the major moving averages have begun to diverge and point upward, $NEAR trades above each of them. While the other averages are much lower, between $2.00 and $2.70, the shortest average has already accelerated toward roughly $3.20. The greatest immediate risk is also associated with that distance.
After practically doubling in a brief amount of time, $NEAR is significantly extended. Around 75, the RSI entered overbought territory, and the most recent candles indicate rising volatility between $4.50 and $4.80. The recurring upper wicks at $4.80 indicate that sellers are starting to show up.
The immediate barrier for continuation is $4.80. The psychological $5.00 level would be immediately in focus if it were broken. $4.20–$4.30 is the first significant support area on the downside.
A deeper normalization toward $3.70–$3.80 could result from losing it. Even a significant correction would not necessarily end the larger uptrend given how far $NEAR currently trades above its moving averages. Momentum is still firmly positive for the time being, but sustaining the current rate of appreciation becomes more challenging after nearly 200% YTD growth.
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