NEAR Price Soars Past $5 Amid Expected ETF Launch

NEAR Protocol's price surged past $5 on September 28, marking one of its strongest price runs this year. The token had been trading below $2 earlier in the summer but quickly moved through key resistance zones at $3 and $4 during September.

The expected launch of Bitwise's spot NEAR ETF is a major catalyst behind the move, giving investors a new way to gain exposure to NEAR through regular brokerage accounts. The fund has cleared key regulatory steps, making it one of the first U.S. spot NEAR ETFs on the market.

Analyst Michaël van de Poppe described the NEAR chart as 'one of the best he has seen recently,' suggesting that more upside may follow. The daily RSI stands at 79.91, placing NEAR firmly in overbought territory, but momentum from the September rally remains strong.