- Analysts observe NEAR forming a potential bottom while traders watch the crucial $3.20 to $3.40 zone for early signs of directional confirmation soon.
- Elliott Wave readings show NEAR nearing a projected wave 5 cluster between $2.04 and $1.55, where multiple Fibonacci levels align closely.
- Weekly structure places NEAR under a wide resistance band, with rising volume and a curling 20-week average suggesting growing market interest.
NEAR price broader trend shift after an extended period of compressed movement is drawing market attention. Market participants are evaluating current technical levels while waiting for confirmation between support and resistance zones.
Market Structure and Recent Technical Signals
Analysts observing the short-term structure note that $NEAR may have formed a potential low on October 10, although confirmation requires a move above the $3.20 to $3.40 area. The current pattern shows price activity forming wave (c) of 2, according to Elliott Wave readings.
The 4-hour chart shared in a post from More Crypto Online illustrates a completed corrective ABC move followed by a five-wave decline. Wave 3 produced a strong downward extension, with wave 4 remaining shallow and corrective.
Price now sits above a projected wave 5 completion cluster between $2.04 and $1.55, where several Fibonacci extensions converge, creating a zone often associated with a potential shift in direction.
Resistance Zone and Broader Market Behavior
A separate weekly view referenced by analyst Michaël van de Poppe shows $NEAR trading below a broad resistance area between $2.80 and $3.30. Repeated tests have failed to produce a sustained break due to continued selling pressure.
The 20-week moving average indicates the early stages of stabilization after extended weakness. Even so, candles remain pressed under the resistance band, suggesting that buyers still seek clearer confirmation.
Trading volume has increased in recent weeks. While this may indicate accumulation, the market continues to wait for a decisive move above the resistance zone before considering a structural shift.
Forecast Into the Coming Weeks
Current consolidation around $2.32 may be nearing completion, according to projections included in the latest NEAR price prediction update. Analysts suggest a possible advance toward the $3.20 level within two to four weeks if momentum improves.
This scenario aligns with broader expectations that assets showing strength before a correction may regain momentum once market conditions stabilize. Van de Poppe noted that activity across the AI sector may remain an area of interest for position builders.
A clear move above the resistance level is needed to confirm a breakout or the price will likely stay within the current range.
