NEAR Protocol Loses 37% From $6 Peak as Price Faces Critical $3.60 Support Test

What to Know

• NEAR Protocol has declined 37% from its $6.00 peak, with its price dropping below several important short term moving averages.
• The $3.60 support level remains critical for NEAR, as further selling could push prices toward $3.20 and eventually $3.00.
• Technical indicators reveal weakening bullish momentum, while lower trading volumes suggest selling pressure remains below levels recorded during September’s breakout.

NEAR Protocol (NEAR) has dropped approximately 37% from its recent $6.00 peak, placing its October recovery under increasing pressure. According to the daily NEAR/USDT chart on Binance, NEAR trades around $3.77 after falling below several short-term moving averages, weakening its earlier bullish structure and raising concerns about further losses toward $3.00.

NEAR Price Breaks Key Support as Sellers Target $3.20

NEAR’s latest correction follows an extended rally that briefly carried the cryptocurrency toward the $6.00 resistance level. During October, the token traded largely between $4.80 and $5.40 before buyers gradually lost control.

The chart shows a series of lower highs, indicating weakening buying demand as NEAR broke below $4.40 and declined toward $3.77. NEAR now faces a critical test around the $3.60 to $3.70 support zone, which aligns with a rising longer-term moving average.

A decisive break below $3.60 could trigger further selling toward $3.20 and potentially $3.00, where another longer-term moving average provides support. Meanwhile, the $4.20 to $4.40 region represents significant resistance that buyers must reclaim to strengthen recovery prospects and reverse bearish momentum.

Technical Indicators Show Weakening Momentum Despite Lower Selling Volume

NEAR’s Relative Strength Index has declined toward the lower portion of its neutral range, reflecting weakening buying strength without reaching oversold territory. Recent selling volumes remain below September’s breakout levels, suggesting that selling pressure has not reached previous extremes despite the ongoing correction.

Source: TradingView

Sustained selling could weaken remaining support levels and trigger further declines, although NEAR remains above its longer-term moving average near $3.00. NEAR must defend the $3.60 support level and reclaim $4.40 to improve its technical outlook and avoid a deeper correction toward $3.00.

NEAR’s next price movement depends on buyers defending current support, while a sustained recovery above nearby resistance could restore bullish momentum.