The NEAR Protocol (NEAR) demonstrates short-term uncertainty, but there are signs of mid-term structural improvement. Currently, NEAR is trading at around $2.41 after rising from $1.80 in early September. However, the latest daily candle has taken the form of a ‘spinning top’ pattern, indicating a lack of clear control from buyers and sellers at the current price level after several strong bullish sessions.
Although NEAR recently approached the $2.50–$2.55 range, buyers are struggling to maintain their momentum above this level. After peaking around $2.55, the price has dropped to $2.41. This could lead to short-term consolidation or correction if a rebound does not occur. The current Relative Strength Index (RSI) is below the 70 threshold, at 67. While momentum has already significantly increased from August levels, there is potential for another attempt at growth. The moving average structure of NEAR is also becoming more optimistic.
According to current data, a golden cross is possible as the 50-day moving average, currently around $1.84, approaches the 200-day moving average, which is also at this level. All three long-term moving averages are compressed in a narrow range; however, the 100-day moving average remains slightly higher at $1.88. The price significantly exceeds this cluster of lagging moving averages, so a crossover would confirm rather than initiate a trend change that has already begun. The key level for bulls remains the range between $2.50 and $2.55; a close above this level could open the way to $2.65 and beyond, possibly into the June area between $2.80 and $3.00. If the ‘spinning top’ pattern reverses, a bearish scenario will begin, with the first support level at $2.20, along with the rapidly rising 20-day average at $2.05.