NEAR Protocol's native token climbed 25% to reach around $3.60, its highest level since the beginning of 2025. The rally coincided with the broader cryptocurrency market's gains on September 18 and a significant protocol upgrade.
NEAR Protocol announced that users can now trade perpetual futures directly from their existing accounts with privacy protections. The feature, powered by Hyperliquid, allows traders to open positions without their actions being traceable.
Analyst Sentiment
The price movement has drawn attention from market observers. Michael van de Poppe described NEAR's chart as "absolutely phenomenal" and suggested the asset is approaching key resistance levels. Other analysts have identified resistance points, with one noting three sell walls up to $4.80.
Some analysts have expressed optimism about further gains in the near term, though views differ on entry points and timing.
Technical Concerns
Despite the rally, two technical indicators suggest caution may be warranted. NEAR's Relative Strength Index has reached 82, entering overbought territory where readings typically precede pullbacks. The RSI historically signals buying opportunities when below 30.
Additionally, NEAR's exchange netflow data shows that inflows to centralized exchanges have significantly outpaced outflows in recent days, suggesting some investors have moved assets from self-custody to trading platforms. This pattern can increase immediate selling pressure.
