NEAR Protocol (NEAR) is showing signs of a bullish reversal as its long-term downtrend weakens and momentum improves for the NEAR price. Stronger technical conditions and ecosystem activity support the recovery outlook, although declining derivatives participation suggests traders remain cautious about the sustainability of the latest move.
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At the time of writing, NEAR is trading at $2.31 with a 24-hour trading volume of $454.05 million and a market capitalization of $3.03 billion. However, the NEAR price has declined by 3.37% over the last 24 hours.
Source: CoinMarketCap
NEAR Price Breakout Puts $5.91 Target in Focus
The crypto analyst The Boss revealed that the NEAR price has broken above a long-term descending trendline on the daily chart, signaling a potential shift in its broader market structure.
The breakout follows an extended consolidation phase where buyers defended key support, allowing bullish momentum to build and pushing NEAR decisively beyond persistent diagonal resistance.
Source: The Boss’ X Post
If the breakout zone holds as new support, the NEAR price could enter a sustained recovery phase, with traders watching resistance around $2.81, $4.02, $4.87, and potentially $5.91.
Continued buying pressure and stronger market participation could validate the bullish setup, while a move back below the breakout area would weaken the recovery thesis.
Also Read: NEAR Price Targets $8 After 234% Rally as Bullish Signals Strengthen
NEAR Derivatives Point to Fading Activity
Coinglass data also pointed out that NEAR is seeing weaker market participation as trading volume declines 28.10% to $746.63 million. Open interest has also fallen 9.83% to $573.32 million, signaling reduced derivatives activity.
The simultaneous contraction in volume and open interest suggests traders are becoming more cautious, potentially pointing to fading momentum and uncertainty surrounding NEAR’s short-term direction.
Source: Coinglass
Bollinger Bands and MACD Point to Strong Reversal
According to the TradingView chart analysis, the NEAR price presents a perfect example of a bullish breakout after prolonged consolidation during the summer months. Having reached an August low of $1.48, the price moved up to $2.44590 but then retreated to $2.31530.
NEAR touches the upper Bollinger Band at $2.31764 while preserving high volatility and being well above the 20-day MA at $1.96358.
Source: TradingView
The use of technical indicators also backs up this general bullish trend. The MACD line at $0.12885 is currently still comfortably higher than the signal line at $0.07796, with wider green histogram bars showing strong buying pressure.
However, even with the recent red daily candle that shows some short-term profit-taking, the uptrend will continue as long as the price remains above $1.96.
NEAR Confidential Intents TVL Hits $60M
The data from MSB Intel further highlighted that Confidential Intents from NEAR Protocol is now at $60 million in TVL, which means that this privacy-oriented project is closer to reaching its $70 million target.
The missing $10 million may very well spark the snapshot in Drop 1 for [email protected], thus attracting more focus on user activity and investment.
This milestone indicates increased focus on private transactions across chains, where the purpose of Confidential Intents is to enhance privacy in transaction execution while reducing MEV exposure.
Once the TVL crosses $70 million, eligible members will be able to receive this milestone payout, making the subsequent growth in TVL all the more crucial for NEAR.
What Happens Next?
The NEAR price’s future actions will depend on whether the buyers can hold the breakout range and break above the $2.81 resistance level. Any further advance could have $4.02, $4.87, and ultimately $5.91 targets.
Losing the support could undermine the bullish setup, while the Confidential Intents TVL hitting $70 million could boost the ecosystem activities.
Also Read: NEAR Price Prediction: Bullish Breakout Puts $3–$4 Targets in Focus
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
