NEAR rises 5.7% to $1.73 before giving up gains: what happened and why it’s worth paying attention to

NEAR price experienced a brief rally after opening in the U.S. market, with an increase of approximately 5.7%, reaching as high as $1.73. Subsequently, selling pressure entered the market, and most of the gains were given back. Such rapid “spike and pullback” movements are common in the cryptocurrency market, especially when liquidity is limited and short-term trading dominates price fluctuations. For investors focusing on NEAR Protocol, the key question is whether this price fluctuation signals a genuine shift in demand or is just another short-term peak.

Brief Review of NEAR Price Movements: Surge, Resistance, and Retracement

The intraday structure of NEAR’s price movement this time is relatively clear. After quickly rising to the $1.73 level, selling pressure caused a stall. Failing to hold this level, NEAR’s price retraced to lower intraday levels, indicating that the bulls are temporarily exhausted and unable to sustain a breakout.

From a trading perspective, this pattern usually means early buyers are taking profits during the rally, while momentum traders entering later are chasing the high passively. Without continued follow-through, such surges often revert back to previous trading ranges.

Comparison of NEAR Price Performance: Relative Strength Against the Market

Looking at NEAR’s price alone can be misleading; more important is its relative performance compared to the overall cryptocurrency market. In this rally, NEAR experienced a noticeable intraday increase, but compared to the main market benchmarks, it did not show significant relative strength.

When a token surges but fails to outperform the broader market, it often indicates that this movement is driven more by short-term speculation rather than renewed long-term confidence. Strong market rallies are usually reflected not only in absolute gains but also in sustained relative performance over multiple trading days.

Signals from the NEAR Chart After Being Blocked at $1.73

From a technical standpoint, failing to hold above $1.73 has made this level a focal point for market attention. The subsequent price action around this level will be an important reference for future trading days.

There are two common interpretations of such movements. One is liquidity sweep orders, where a brief breakout triggers stop-loss orders, allowing major players to offload at high levels, leading to a reversal. The other is a tentative breakout attempt that requires further confirmation; if the price retraces and consolidates, and stronger buying interest emerges, it could retake this level.

Which interpretation is more accurate depends on subsequent market developments. A single strong move does not define the trend; sustained confirmation is key.

NEAR Price and Volume: Interpreting Market Participation

During this rally, trading volume increased relative to recent averages, initially indicating heightened market interest. However, volume must be analyzed in conjunction with price direction.

If volume mainly increases during upward moves, it suggests active buying interest; if volume is higher during pullbacks, it may indicate distribution, with sellers exiting on the rally. The quick retracement and volume spike after the $1.73 high lean more toward the latter interpretation.

NEAR Fundamentals: Short-term Volatility Cannot Change Long-term Logic

Despite frequent intraday fluctuations, investors tend to revert to fundamentals when deciding whether to hold or add to their positions. NEAR Protocol, as a Layer 1 blockchain emphasizing scalability and developer-friendliness, has features that enhance transaction throughput and usability.

The NEAR token is used for network fees and staking, with long-term demand closely tied to on-chain activity and participation. These fundamentals influence long-term value but do not prevent short-term volatility. Even solid projects can experience sharp surges and retracements amid market uncertainty.

Key Support Zones After NEAR’s Retracement

After being blocked at $1.73, market focus naturally shifts to NEAR’s performance at lower levels. The previous high acts as a short-term resistance, while the retracement area nearby is critical for observing whether buyers are willing to defend higher levels.

If NEAR stabilizes and gradually raises lows, failed breakouts could turn into healthy consolidations; if the price continues downward and returns to the previous range, this rally may be viewed as a temporary anomaly by the market.

NEAR Price Tracking on Gate and Trading References

For traders and investors monitoring NEAR prices in real-time, Gate offers the NEAR/USDT spot market, including real-time prices, candlestick charts, and order book data. Especially after volatile movements, these tools help assess whether buying interest re-emerges during pullbacks or if resistance zones remain dominated by selling pressure.

Real-time market depth can help distinguish healthy consolidations from ongoing distribution, particularly in the days following sharp intraday swings.

Practical Significance of This NEAR Price Movement for Investors

NEAR’s 5.7% rally to $1.73 followed by a retracement should be viewed more as an unclear signal rather than a confirmed trend reversal. The rally indicates market speculative enthusiasm, but the inability to hold higher levels highlights that a sustained long-term reversal requires stronger and continuous buying support.

Currently, $1.73 is a key reference point. Whether NEAR can retake and stabilize above this level or fall back into the previous range will largely determine the next directional move.