NEAR Price Holds Its Triple Floor After a Leverage Washout

Binance’s NEAR/USDT daily chart on TradingView shows the pullback starting from that peak just under $6, after a rally that nearly quadrupled the token from its summer low.

Three lines, one floor

Saturday’s low landed in a narrow band where three separate levels overlap: the 0.382 Fibonacci retracement of that rally, the rising 50-day SMA, and the October 8 swing low.

October 8 swing low · ~$4.29 0.382 Fib · ~$4.28 50-day SMA, still rising · ~$4.27

The long lower wick on Saturday’s candle shows buyers stepping in across that band and pulling price well off the lows by the close.

How Saturday’s flush played out

Step 1NEAR loses the 0.236 Fib near $4.93 → Step 2$11.65M in longs liquidated in one hour → Step 3Open interest shrinks about 9.5%

The liquidations hit in the hour to 14:20 UTC on Saturday, as NEAR fell to about $4.34, according to CoinGlass data. Over the following day, open interest in NEAR futures dropped about 9.5%, Coinalyze data shows.

That sequence makes this pullback look more like a washout than a breakdown. Falling open interest means positions were being closed rather than new bets against NEAR being opened, so much of Saturday’s selling came from forced exits. And it happened right on the strongest support on the chart.

What the dip buyers are leaning on

Buyers at the floor also have a fundamental story. NEAR’s third-quarter update put cumulative volume on NEAR Intents, its cross-chain swap system, above $32 billion, with more than $52 million in fees and over $8 million directed to NEAR buybacks. That gives the token a source of demand tied directly to network revenue.

The system also had a setback this month. A $3.8 million exploit in early October forced NEAR Intents to pause, and the team has said affected users were made whole.

Above and below the floor

Overhead

~$5.99 · October 10 peak (+35%)

~$5.43 · October 21 rebound high (+23%)

~$4.93 · 0.236 Fib, lost Saturday (+11%)

Below the floor

~$3.76 · 0.5 Fib (−15%)

~$3.03-$3.23 · golden pocket and 100-day SMA (−27% to −32%)

~$2.43-$2.48 · 0.786 Fib and 200-day SMA (−44% to −45%)

The upper column shows the problem for bulls. Each rebound since the peak has topped out lower, and the 0.236 Fib flipped from support to resistance on Saturday. Below the floor, the gap to the next level is wide, about 15% to the 0.5 Fib.

Floors built from a Fibonacci level and a rising average have become the key battleground across large altcoins this month, much like HYPE’s pullback toward support near $74.5.

Momentum and the bear case

RSI sits near 45, below its signal line near 53 and just under the 50 midpoint. The pullback has cooled momentum from overbought readings near the October peak without pushing it toward oversold territory.

The bear case is that rallies keep fading at lower levels while the floor stays fixed, which leaves buyers less room each time they have to defend it.

Two Paths From the $4.27 Floor

NEAR sits about 3% above the $4.27–$4.28 floor, with the 0.236 Fib near $4.93 overhead.

If buyers keep holding the floor

Daily closes above $4.27 keep the structure intact, and a bounce could carry NEAR back toward the 0.236 Fib.

If the floor breaks

A daily close below $4.27 before the end of October could open a deeper pullback toward the 0.5 Fib.

Bigger picture

The 100- and 200-day SMAs sit far below price and remain stacked in bullish order, so even a move to the 0.5 Fib would leave NEAR’s longer-term uptrend in place.

This article is provided for informational purposes only and does not constitute financial advice. Cryptocurrency prices are volatile.

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