Near Protocol ($NEAR) has staged one of its strongest rallies in months, climbing from roughly $1.60 in August to above $5.00. However, the latest daily candles suggest that the easy part of the rally may already be over, with $NEAR now entering a volatile consolidation phase.
$NEAR currently trades around $5.16 after recovering sharply from the latest pullback. The important development is the reversal from approximately $4.70. Buyers stepped in aggressively around this zone after several attempts by sellers to extend the correction, producing a sequence of higher intraday lows followed by a return above $5.00.
$NEAR's Bullish Structure Survives
$NEAR has already been rejected from the $5 region multiple times, with long upper wicks showing substantial supply near the local highs. A daily close above $5.60 would therefore carry much more significance than another temporary intraday spike.
