NEAR Price Slows as Buyers Defend $4.60 Support Level
NEAR Protocol's September rally has slowed, with the token trading at around $4.79 as buyers attempt to hold the $4.60 support level. The token's momentum and volume have weakened, and it's now moving within a narrower range of roughly $4.60 to $5.00. This marks a significant change from September, when NEAR climbed from $1.80 to between $5.40 and $5.60, nearly tripling from its starting level at the rally's peak.
The repeated rejection of the September highs disrupted the sequence of higher highs and higher lows that had characterized NEAR's earlier recovery. The token has since settled below its recent peak while retaining much of the gains accumulated during September. The consolidation has also been accompanied by a decline in daily relative strength index readings.
The $4.60-$4.70 area is now the immediate support zone for NEAR. Holding that range would preserve the current higher price base and could allow buyers to make another attempt at the $5.00 level. A move above $5.00 would bring the $5.40-$5.60 resistance zone back into focus.