Such a breakout could reopen the path toward $6.00 and potentially extend the current price-discovery phase.
Momentum remains elevated but has cooled from extreme conditions. The daily RSI previously pushed into overbought territory above 70 during the vertical portion of the rally. It has since retreated before beginning to turn upward again. This reset is constructive because $NEAR managed to reduce its momentum excess without giving back most of the gains from the September advance.
Heavy Long-Term Trend Extension
The moving-average structure also remains strongly bullish. Price trades far above all major averages, while the shorter-term averages continue rising rapidly. The downside is that $NEAR remains heavily extended from its longer-term trend, increasing the probability of violent corrections even if the broader uptrend survives.
For now, $4.60 is the critical support level. Losing that level would weaken the latest reversal and expose approximately $4.20, followed by the rapidly rising short-term moving average. Conversely, holding above $5.00 and breaking $5.60 would confirm that buyers have regained control.
$NEAR‘s rally therefore does not appear technically exhausted yet. But after a move of more than 200% from the August lows, continuation increasingly depends on converting the $5.40–$5.60 supply zone into support rather than simply maintaining bullish momentum.
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