What to Know NEAR fell below $5.00 and traded near $4.78, retreating roughly 14% from its local high following an extended September rally. An overbought momentum reading and stronger selling
NEAR has fallen below $5.00 following a retreat from $5.58, putting a key support area from its September rally in view. At around $4.78, the token sits roughly 14% below that local high, although it remains well above its August trading range.
The reversal matters because NEAR climbed more than 200% from the $1.60 to $1.80 range before sellers challenged its advance. According to the NEAR/USDT daily chart, the move toward $5.58 ended with an upper wick, showing resistance near the peak.
Moreover, a recent red candle engulfed the previous green candle, adding another sign that buyers have lost some control. NEAR then slipped beneath $5.00, a round-number level that traders often watch during a pullback from a strong rally.
Selling volume increased during the September 23 decline, suggesting pressure had emerged before the latest move below $5.00. However, higher volume on a declining session cannot establish whether the retreat will develop into a lasting downward trend.
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NEAR’s relative strength index approached 85 during the rally, indicating unusually strong momentum before the latest decline. As the indicator cooled, the price also moved lower, placing greater attention on areas where buyers previously supported the advance.
The first area to watch sits between $3.70 and $3.80, where an earlier breakout zone meets a rising short-term moving average. From the cited price of $4.78, a decline to $3.80 would amount to a further drop of roughly 20%.
That level carries weight because NEAR’s rally gained speed around $3.80, making it a possible test of buyer demand. Additionally, the short-term moving average near $3.70 could offer support if sellers push the token through the former breakout level.
Source: Tradingview
NEAR also trades well above several longer-term moving averages, which sit across a broad range near $2.20 to $3.00. Although that gap shows how far the token has climbed, it does not mean the price must return to those averages.
If buyers cannot defend $3.70 to $3.80, the area around $3.00 would become another significant level on the chart. Such a decline would erase more of September’s gains and raise further doubts about the strength of NEAR’s recovery.
Conversely, buyers could weaken the reversal signal by reclaiming $5.00 with stronger trading volume and holding above that level. NEAR would still need to clear $5.58 to move beyond the high where sellers interrupted its rally.
At the moment, the chart leaves NEAR between resistance at $5.00 and the earlier breakout area around $3.80. Its response at either level will help show whether the decline remains a pullback or develops into a deeper retracement.
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The post NEAR Loses $5 Support as $3.80 Breakout Zone Comes Into View appeared first on 36Crypto.
