Don’t Rush into NEAR Trading: These Two Levels Could Halt the 44% Rally

Summary:
NEAR Protocol’s token has seen a substantial increase of 13.02% in the last 24 hours and a remarkable 44% rise since its low of $0.953 last Tuesday. With a significant increase in Open Interest by 81%, the current bullish momentum in the crypto market, particularly in the AI sector, suggests that while short-term gains are evident, traders should proceed cautiously and be aware of potential resistance levels ahead.

Key Takeaways

NEAR Protocol's token has surged by 44% since last week.
Current market trends show a strong bullish momentum, fueled by increased speculative interest.
Important resistance levels at $1.5 and $1.67 may impede further gains.
Traders should be cautious of entering long positions until a confirmed breakout occurs.

NEAR rallies 40% in a week, but here's why bulls would want to take profits

Strong Momentum in NEAR Trading

NEAR Protocol 1-day Chart

Source: NEAR/USDT on TradingView

The price of NEAR Protocol's token has rebounded significantly, gaining 44% since hitting a low of $0.953 last Tuesday. In the past day alone, it has climbed by 13.02%. The data from Coinalyze indicates that Open Interest has surged by 81%, signaling robust crypto market engagement, particularly within the AI sector, which has seen other altcoins like Bittensor [TAO] and Virtuals Protocol [VIRTUAL] also perform well.

Spot Volume Showcases Bullish Sentiment

During the later part of 2025, NEAR Protocol's token prices fell below a long-term trading range, establishing a new supply zone between $1.82 and $1.88. The support level at $1.42 from December was breached in late January, indicating strong selling pressure. Currently, NEAR is retesting this resistance level, and the MACD indicator is poised to show a bullish crossover.

Furthermore, the spot trading volume has consistently remained above the 20-day moving average for the past six days. This trend has led the Accumulation/Distribution (A/D) indicator to rise, reflecting an increase in buying momentum compared to February. Overall, this uptick in buying volume suggests the possibility of breaking out past the $1.42 resistance level. However, traders should keep in mind the overarching bearish trend that has characterized NEAR's market since October.

Caution Advised: Avoid FOMO

While the current momentum may entice some traders to take long positions, it's crucial to respect the long-term market trends. The bearish decline from $1.89 to $0.84 must be carefully considered.

NEAR Protocol 1-day Chart

Source: NEAR/USDT on TradingView

A detailed look at the daily chart reveals two key resistance levels at $1.5 and $1.67, where the present price action could potentially stall. Given the current market state, traders should exercise restraint and avoid prematurely entering long positions on NEAR. A definitive breakout past $1.89 would be necessary to affirm a bullish trend, and any retracement from such a breakout could present a viable buying opportunity.

Final Thoughts

Disclaimer: The insights shared in this article are purely the writer’s perspective and should not be taken as financial, investment, trading, or other formal advice.