Key Takeaways
NEAR reached its cycle high in March 2024 and has fallen since. A failed rally attempt in December created a lower high, and NEAR has tumbled over 70% since.
While the long-term trend is bearish, the recent price action has sparked short-term optimism. However, it is still unclear if this momentum can lead to something more substantial.
Let’s break down the price action across different time frames and see what lies ahead.
NEAR Price Closes Below Support
The weekly time frame price analysis shows that NEAR has decreased since March 2024, accelerating its decline after a lower high in December.
Since then, the price has fallen almost without retracement, culminating in a low of $1.82 last week, breaking from the $2.65 horizontal support area.
The next closest support is at the cycle lows near $1.25, roughly 40% below the current price.
Technical indicators are decisively bearish. The Relative Strength Index (RSI) is below 50, while the Moving Average Convergence/Divergence (MACD) is negative.
Both are falling, confirming that the NEAR trend is bearish.
New NEAR Lows Incoming?
The long-term wave count gives a bearish NEAR Protocol price prediction.
In March, the NEAR price seemed to be completing an A-B-C corrective structure (red).
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However, wave C did not end at the 1:1 length of wave A, making this unlikely.
The shape of the downward movement suggests that this could be a 1-2/1-2 wave count that takes NEAR to a new all-time low.
However, a short-term bounce could still occur before the NEAR price breaks down.
The daily NEAR price analysis supports this for several reasons. Firstly, NEAR has completed a five-wave downward movement (red) since the December 2024 high.
While this will likely be wave one in a long-term decline, a significant bounce is still likely.
Secondly, NEAR trades inside a descending wedge, which is considered a bullish pattern.
Finally, the MACD has generated a bullish divergence (orange) and has nearly made a bullish cross (black circle).
So, the daily time frame suggests a NEAR breakout toward $3.50 could occur.
Afterward, the price could resume its downward trend to new lows.
Bounce Before Breakdown
The NEAR trend has been bearish in 2025, causing a breakdown from a long-term horizontal support level.
While the long-term trend is bearish, a significant bounce could happen in the short term.
A breakout from its descending wedge could take the NEAR price to $3.50.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
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