NEAR Protocol recorded a record growth of 178% in September, closing the month at $5.57 from an initial price of $1.92. This growth lifted the value of the NEAR token above key levels, allowing it to break through a multi-year resistance zone. Since the beginning of October, the NEAR price has returned to $4.65, which has become an important reference point. To confirm the current growth, it is crucial to hold the breakout zone to avoid a short-term pullback.
A determining factor for further recovery would be institutional support, which could help absorb the correction following the rise. The Bitwise NRR ETF attracted $35.5 million on its first trading day, followed by $13.2 million and approximately $9 million in the next two days, totaling $57.7 million in cumulative inflows. During the same period, NEAR gained 1.7% with a spot volume of $444.7 million. It is important that continuous purchases through the ETF help maintain previous breakout levels and eliminate market fluctuations.
The current pullback of NEAR to the $4.50–$4.69 range will be key in determining whether a sustainable upward trend has formed or if this is a temporary recovery. If the price holds at these levels, further growth to $8.30 and $10.00 will remain within reach. However, if it falls below $4.50, the likelihood of a bullish scenario may decrease. A breakout above the $6.40 mark could confirm buying interest and open up additional growth opportunities.
This material is prepared solely for informational purposes and does not constitute financial advice or a recommendation.
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