NEAR Protocol Soars 178% in September, $10 Target in Sight
NEAR Protocol has posted its strongest monthly gain on record, with a 178% increase in September. The token's price ended the month at $5.57, surpassing its previous highs and entering a multi-year resistance zone. Buyers are now facing a crucial test: can they hold the ground gained before sellers regain control?
The rally carried NEAR into a key resistance area, where previous recoveries had been capped. However, the token's breakout above $2, $3, and $5 has set the stage for further gains. The Bitwise NRR ETF has drawn significant inflows, with $57.7 million in cumulative net inflows. Sustained ETF creations are likely to provide additional support for NEAR and extend the durability of September's breakout.
NEAR's pullback could reveal whether September's gains were a sustainable uptrend or another temporary recovery. If the token can hold at $4.50-4.69, it will remain constructive and allow room for a rise to $8.30 and $10.00. However, if it falls through $4.50, the bullish narrative may lose validity.