NEAR Protocol Price Breaks Above $5 as Buyers Maintain Momentum

NEAR Protocol's price has surged past $5, marking a significant milestone in its recovery. The token experienced a powerful rally from around $2 in late August, with prices increasing by over 11%.

The latest move pushed NEAR to a local high near $5.18 as buyers continued to support the breakout. However, market analyst Michaël van de Poppe cautioned that markets often move through expansion and correction phases, warning traders to manage their positions in the current area.

Technically, the NEAR Protocol price is testing resistance between $5.50 and $6.00 after its sharp advance. The daily chart shows consecutive bullish candles, with prices reaching $5.188 before slight consolidation. The RSI stands at 85.51, indicating strong buying momentum but also showing overbought conditions.