NEAR trades around $4.97 after pullback from peak of $6.00

NEAR Protocol is currently trading around $4.97 after a sharp pullback from recent highs. The token rose from approximately $1.60 in August to nearly $6.00 in mid-October, marking one of the most powerful rallies among major altcoins this year. Since then, the price has been moving sideways, and investors are wondering if NEAR can recover and rise higher. The answer depends on one price zone.

The main resistance is now in the range of 5.40–5.60. NEAR has repeatedly failed to close above this zone in recent weeks: each attempt ended with a long upper shadow on the daily candle, indicating quick seller intervention as the price approached. Above this zone, the next important barrier is the $6.00 peak.

Support is easier to identify. The short-term moving average around $4.83 has held the price in recent sessions, and buyers continue to defend the $4.80 level. If it doesn't hold, the next significant level is around $4.30, where the price bounced earlier in October. It coincides with the 50-day moving average around $4.27, making this zone strong support.

Overall, the trend remains healthy. All major moving averages are pointing upwards, and the price is significantly above each of them. The 200-day average around $2.80 is far below the current price, showing how far NEAR has come in a short time. A drop to average levels would be a normal cooldown and wouldn't disrupt the overall uptrend.

Momentum has weakened. The Relative Strength Index has fallen from extremely overbought levels above 85 in late September to about 50 today. This is a reset, not a warning: the market has had a chance to rest, and there is room for new growth if buyers return. Trading volume during the consolidation has decreased. Low volume in a narrow range often precedes a larger move but also indicates that investors are not yet confident.

A breakout above $5.60 on high volume will be the clearest signal of recovery. It could pave the way for a retest of $6.00 and possibly new highs. Currently, NEAR is squeezed between $4.80 and $5.40: a close above $5.60 will confirm that buyers are back in control, while a close below $4.80 could indicate a deeper decline to $4.30. As long as neither of these levels is broken, recovery remains possible but unconfirmed.