NEAR Price Crashes 13%, Sentiment Hit by Security Exploit

The NEAR price has taken a sharp hit, falling 13% in a single day on October 1 after a powerful run that began in February. The token broke out in September and reached $5.50, but today's selloff has changed the tone quickly.

The rally had serious momentum, but an overheated Relative Strength Index (RSI) made a cooldown unsurprising, especially after such a strong move. A few sell candles aren't unusual, but repeated heavy selling would make the level increasingly important as traders watch whether the broader rally can hold its ground.

The chart isn't the only problem; sentiment is also taking a hit from a reported security incident involving NEAR Intents. ZachXBT claimed that NEAR Intents were exploited for more than $3.8 million through its BSC hot wallet, with funds sent to KuCoin and bridged to Bitcoin.