NEAR Breaks Ultra-Bullish Trend, Consolidation Ensues
Near Protocol (NEAR) has seen its ultra-bullish trend come to an end as it breaks away from its almost vertical price action in the second half of September.
The token's price has been consolidating around $4.60-$5.00 after briefly reaching the $5.40-$5.60 region, where sellers were willing to distribute into strength.
Momentum indicators confirm this cooling, with the daily RSI retreating toward the low-60 area from above the 70 overbought threshold.
The token's trading activity has stabilized, and buyers have not yet demonstrated enough conviction for another immediate vertical leg.
The important support zone now sits around $4.60-$4.70, and holding it would allow NEAR to establish a higher base before attempting another move toward $5.00 and ultimately the $5.40-$5.60 resistance area.