NEAR ETF Launch Sends Token Soaring to 21-Month High
NEAR has hit a 21-month peak following the launch of its first spot ETF by Bitwise. The token currently trades around $5.10, up 7% for the day, after surpassing $5.50 for the first time since January 2025.
The launch of the NRR ETF with Coinbase Custody as custodian is being hailed as a key catalyst behind NEAR's latest uptick. Analysts are divided on whether the token will continue to rise or face a major correction, with some predicting further upside and others warning of a potential pullback.
Some analysts believe that NEAR has entered a price discovery mode, with Team LAMBO Charts speculating that bulls have been waiting for years for this rally. Others are more cautious, with Gordon noting that major pumps in the past have historically been followed by violent corrections.
The Relative Strength Index (RSI) for NEAR has surged past 70, suggesting that the token's price has risen too much in a short period and may be setting up a pullback. However, Bitwise recently raised its base-case price target to $155, with a bull-case target of $562.