NEAR Protocol Rallies 6 Percent Smart Money Holds Long Position
NEAR Protocol surged 6.32% in a single session on October 5, 2026, reaching $5.11. This move follows a period of quiet accumulation, with the coin's price now 150% above its 200-day simple moving average of $2.05. The technical structure is bullish, with all major daily moving averages stacked in a perfect progression. The Relative Strength Index (RSI) stands at 67, indicating room for upward movement before becoming overbought.
Despite the strong technical setup, the Moving Average Convergence Divergence (MACD) histogram is flatlined at zero, signaling a stall rather than a reversal. Bollinger Bands position the price in the upper-middle zone, trending toward the upper band at $5.90. The daily Average True Range (ATR) of $0.57 suggests NEAR can achieve significant moves in a short period if buying pressure intensifies.
Open interest in NEAR futures dropped 8.1% during the rally, which could indicate that leveraged positions were either liquidated or profits were taken. However, the long/short ratio among top traders stands at 1.36, with 57.6% holding long positions. This positioning suggests smart money is confident in the bullish outlook. The funding rate remains neutral at 0.0100%, indicating no crowded-long tax.
The critical level to watch is $5.29. A daily close above this resistance could trigger a move toward $5.47, with a longer-term target of $6.00-$6.50. Conversely, a rejection at $5.29 could lead to a retest of $4.84, with further downside risk if support fails. The next 48 hours will be crucial in determining NEAR's near-term direction.