The price of NEAR Protocol rose by more than 12% on October 16, trading above $5.20. According to CoinGecko, NEAR was trading around $5.21 with a market capitalization of $6.82 billion and a daily volume of $1.24 billion; the session range was 4.54–5.43. Over 30 days, the token gained approximately 122%, but remained below the October 11 high of $5.97, which analysts consider key resistance.
The trigger was the appointment of Helius CEO Mert Mumtaz to the NEAR Foundation Board on October 14. He will work alongside co-founder Illia Polosukhin, Anchorage Digital co-founder Diogo Monica, former COO of the foundation Chris Donovan, and NEAR One founder Bowen Wang. Mumtaz will continue to lead Helius, whose Solana infrastructure is used by Phantom, Jupiter, Coinbase, and Bitwise. "For crypto to win, we need connected, unstoppable liquidity on a planetary scale," he said.
On the daily chart, NEAR is holding above four EMAs: the 20-day (4.903), 50-day (4.052), 100-day (3.256), and 200-day (2.635). This indicates buyer control across different timeframes. However, the MACD has weakened: the 0.368 line is below the signal line at 0.454, and the histogram is −0.086.
Rekt Capital notes that the breakout of the range is not confirmed: a return above $5.37 and holding $4.90 is needed, otherwise, a move to the lower boundary of $3.79 is possible. A break of $4.50 and the 50-day EMA around $4.05 will open the path lower.
This material is prepared solely for informational purposes and does not constitute financial advice or a recommendation.
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