Technical indicators show NEAR approaching a critical accumulation zone near $2.30 after sharp volatility
The NEAR Protocol (NEAR) price fell over 5% in the past 24 hours, extending a correction phase that has pushed the token toward a key technical support level around $2.30, according to data from TradingView. The move follows heightened volatility across the crypto market after a $20 billion liquidation event last week.
On the daily chart, NEAR continues to trade within a narrow consolidation band after failing to sustain above the $2.60 resistance zone, highlighted by repeated rejections from that level over the past week. The price has now retraced into the green support area, suggesting short-term traders are closely watching for a reaction that could determine NEAR’s next directional move.
Technical analysts note that the broader structure remains neutral to bearish, with sellers defending the $2.80–$3.00 region while buyers accumulate near $2.00–$2.20, forming a well-defined range. The orange support zone around $1.90 marks the next major demand area if current levels fail to hold.
“NEAR is in a reaccumulation phase following heavy liquidation across altcoins,” said BITX digital asset strategist . “If the $2.20 zone holds, we could see a short-term rebound toward $2.70, but any break below it opens the door to retesting the $1.90 support.”
The recent decline aligns with broader risk-off sentiment across crypto assets, as investors react to escalating U.S.-China trade tensions and the temporary flash crash in Bitcoin earlier this month. Despite near-term weakness, analysts emphasize that long-term fundamentals for NEAR remain intact, driven by active ecosystem growth and developer expansion.
“We’re seeing healthy on-chain activity and network usage,” BITX analyst noted. “The recent correction looks more like a liquidity flush than a structural breakdown.”
With volume spikes signaling increased participation, traders will be watching whether NEAR can stabilize above $2.30 to confirm a potential reversal pattern or risk a continuation toward the next major support at $1.90.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.