NEAR Price Hits Brick Wall: Will $4.00 Support Hold or Trigger a Correction?

NEAR Protocol's price has been on a vertical surge, but it may have hit a brick wall. The asset is trading at $4.37 as of September 22nd, up 2.53% on the day and looking strong at first glance.

However, this strength is due to its incredible rise off structural lows, it's trading 140% above its 200-day SMA at $1.82 and 100% above its 50-day SMA. This kind of parabolic extension from every moving average simultaneously is not a sign of healthy momentum, but rather a market that ran extremely fast and is now dangerously stretched.

The intraday volatility is live, with the 24-hour range of $3.92 to $4.59. NEAR printed $4.59 at some point in the last session but couldn't hold it, this is a rejection candle signature, not a breakout confirmation.