NEAR Price Soars Over 40%, But Momentum May Be Stretched
NEAR Protocol is experiencing a surge in price, jumping over 40% this week to reach $5.046. The rally has been driven by expanding product integrations and partnerships, such as its recent collaboration with Ondo Finance to offer tokenized U.S. stocks and commodities.
The technical setup for NEAR is firmly bullish, with momentum indicators in overbought territory. However, this suggests that a pullback may be imminent, at least in the short term.
Despite the potential for a correction, analysts believe that holding above $4.827 will keep the focus on consolidation or further upside through next week. A break above $5.7825 could trigger a further rally, while a drop below $4.827 would open the door to a deeper pullback.
The expected range for NEAR over the next 7 days is $4.2754 to $5.7825, with a high probability of continued upside unless support at $4.827 fails.