Near Protocol is approaching a decisive technical point after its explosive September rally. The token is trading around $5.29, but repeated failures around $5.40–$5.60 are creating a potential triple-top structure that could put the psychologically important $5 level under pressure.
Momentum is descending
The pattern has developed following an enormous advance from approximately $1.60 in August. NEAR accelerated above $2.50 in mid-September and effectively doubled within the following two weeks. However, the rally has struggled to extend once the price entered the $5.40–$5.60 region.
Three separate attempts to establish a new high have now encountered resistance around this zone. The first produced a wick toward $5.60 before reversing sharply. NEAR subsequently recovered toward $5.50 and was rejected again. The latest rebound has brought the asset back toward $5.30–$5.40, effectively testing the same supply area for a third time.
That does not confirm a triple top yet. Confirmation would require NEAR to break the structure’s support rather than simply fail at resistance.
Key level to watch
The first level to watch is $5.00. NEAR has repeatedly crossed this threshold during recent volatility, making it the immediate battleground between buyers and sellers. Below it, $4.70–$4.80 represents much more consequential support. A daily close beneath $4.70 could confirm that the repeated failures near $5.50 are developing into a broader reversal.
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Momentum also warrants caution. The RSI reached overbought territory during the September surge but has since declined despite NEAR remaining near its highs. The loss of momentum indicates that the rally is no longer accelerating at the same rate.
At the same time, the underlying trend remains extremely strong. NEAR trades substantially above all major moving averages, with the shortest average rising toward approximately $4.25. Therefore, calling a bearish reversal before support actually breaks would be premature.
A decisive close above $5.60 would invalidate the triple-top thesis and could quickly expose $6.00. Until that happens, however, NEAR is repeatedly encountering sellers at essentially the same level. With the asset already up more than 200% from its August bottom, failure to break $5.60 increasingly raises the probability of another test of $5.00 and potentially $4.70.
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