Key takeaways
- NEAR fell 7% on Tuesday to around $4.70, extending Monday’s decline.
- Bitwise’s NEAR ETF attracted $5.42 million on Monday after three consecutive weeks of inflows.
- Resistance near $5.02 must be reclaimed to strengthen the recovery outlook.
NEAR retreats despite continued ETF buying
NEAR Protocol declined by over 7% on Tuesday, following a similar loss the previous day, as weakening short-term momentum outweighed continued demand through its exchange-traded fund.
The token traded around $4.70 at the time of this report, remaining below a closely grouped resistance area near $5.02.
Bitwise’s NEAR-focused ETF, NRR, recorded $5.42 million in net inflows on Monday, according to SoSoValue data. The buying followed three consecutive weeks of inflows totaling more than $80 million.
The positive flows indicate sustained demand through the fund, although they have not prevented the latest price correction. ETF activity represents one investment channel and does not determine the direction of the broader market.
NEAR’s Q3 2026 report, released Monday, highlighted growth in its multichain transaction infrastructure.
Cumulative volume through NEAR Intents exceeded $32 billion, approximately 45% above the previous quarter’s reported cumulative figure.
The protocol also reported that more than $8 million in fees had been directed toward token buybacks.
Meanwhile, total value locked in its privacy-focused Confidential Intents reached approximately $160 million, an increase of roughly 463%.
These figures point to expanding use of NEAR’s infrastructure. However, network growth and token buybacks do not guarantee an immediate recovery in NEAR’s market price.
Resistance around $5.02 caps recovery attempts
On the four-hour chart, NEAR remains below its 50-period Exponential Moving Average at $5.0179 and a descending resistance trendline near $5.0261.
Together, those levels form the first significant obstacle for buyers seeking to restore short-term momentum.
A sustained breakout above $5.0261 would strengthen the recovery case and bring the September 28 high at $5.5780 into focus. Beyond that, the $6.00 round-number level represents the next upside reference.
Until NEAR clears this resistance cluster, rebounds remain vulnerable to selling. The Relative Strength Index stands near 50 on the daily chart, indicating subdued momentum below its neutral midpoint.
The Moving Average Convergence Divergence indicator has also crossed marginally beneath its signal line, suggesting that upward pressure is fading.
These readings support a cautious near-term outlook, although they do not establish that the broader upward trend has reversed.
NEAR continues to trade above its 200-period EMA around $4.5513, leaving an important technical support level intact.
If the correction extends, the 200-period EMA near $4.55 provides the first significant support reference.
Below it, horizontal support at $4.4440 marks an area that limited losses on October 8. Holding this zone would support the interpretation of the decline as a correction within the broader uptrend.
A sustained break beneath both levels would weaken that structure and increase the risk of a deeper decline toward $3.9140, the September 19 high.
For now, NEAR’s outlook hinges on whether buyers can defend support and regain the resistance cluster around $5.02, even as ETF inflows and network activity remain constructive.
