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NEAR Protocol is having a strong week. The token jumped approximately 11% and touched $6.00 on Binance before pulling back. At the time of writing, it trades near $5.64, up almost 5% over 24 hours. Trading interest grew even faster than price. Daily volume reached $3.54 billion, a rise of 98.44%.
Volume is doubling
Volume nearly doubled in a single day, which indicates that many more investors are paying attention. The bigger picture is just as strong. NEAR traded around $1.55 to $1.80 through most of July and August. Since then, it has more than tripled. The move began in late August and accelerated in mid-September, when the price shot above $3.60 in just a few days. The rally has not been smooth.
In early October, NEAR dropped to approximately $4.30 in a single sharp red candle. Buyers stepped in quickly, and the price recovered within days. That quick rebound shows demand is still strong at lower levels. The moving averages on the daily chart all point up, and the price sits well above each one.
Trying to save the trend
The closest support is near $4.60, followed by approximately $3.90. A fall to those levels would still keep the trend intact. The RSI is around 65. That is high, but it is still below the 70 line that typically marks an overheated market. This leaves some room for more gains before the signal turns risky.
There is one thing to watch. Volume on the chart is still lower than during the large September surge. Today's jump in volume is a good sign, but the market needs to keep it up. A rally with fading volume can lose energy quickly. The key levels are clear.
A daily close above $6.00 would open the way to new highs. If the price slips, the $5.40 to $5.60 area, where it stalled in late September, is the first place to look for support. For now, NEAR is ranked 8th on the list the data comes from, and investors are clearly interested. The next few days will show whether this volume spike is the start of another leg up or just a short burst.
Arman Shirinyan
Dan Burgin
