NEAR trades around $3.77: support now at $3.60–$3.70

Near Protocol (NEAR) has returned to a correction mode after a strong rally that briefly pushed the price to $6.00. The token has lost a significant portion of its recent gains and the positive sentiment of September and October has faded. On the daily NEAR/USDT chart on Binance, it is trading around $3.77 – approximately 37% below the recent peak. The decline has not yet reached 50%, but the previous positive sentiment has disappeared.

Support and Resistance

The decline has taken NEAR below several short-term moving averages, noticeably weakening its market position. For most of October, the token held between $4.80 and $5.40, then began forming lower highs – a sign that buyers are losing strength. A break below $4.40 accelerated sales and brought the price to current levels.

Important support now is the 3.60–3.70 zone, backed by an upward long-term moving average. A clear break below opens the way to $3.20 and possibly $3.00. The nearest resistance is 4.20–4.40: NEAR needs to reclaim this range to expect a full recovery.

Momentum and Volumes

The Relative Strength Index (RSI) has dropped to the lower boundary of the neutral range. The buying momentum is weakening, but the market has not reached an oversold state. Volume could be key: recent sales are still noticeably below the volumes of the September breakout, which is positive, but if sales continue, the pressure on the price will increase.

NEAR remains above the long-term moving average around $3.00, so the broader recovery structure is not yet broken. If buyers do not defend $3.60 and reclaim the nearest resistance, the October rally could turn into a prolonged correction rather than a short pullback.