Near Protocol (NEAR) is one of the worst-performing cryptocurrencies ever since the Donald Trump-led crypto market rally in November last year. The layer-1 token is down 65% in the past year, while its top rival, Ether (ETH), has witnessed a 50%-plus jump in its prices.
The worst days might be behind for NEAR, if analyst Shah Faisal Shah is to be believed. Let’s examine.
One Last Dip to $2.60 May Trigger Explosive NEAR Rebound
NEAR will likely decline to $2.60 from its current price of $2.87, according to Shah, which he believes is an accumulation zone that could trigger a major rebound toward $7. That is up over 140% from the current price levels.
An accumulation zone is a price range where long-term buyers gradually build positions while short-term traders exit. This sideways action often creates a foundation for larger rallies. For NEAR, the $2.60 level has become a focal level because it represents both a psychological support and a technical base formed by previous lows.
If buyers continue to defend this range, it can act as a launchpad for the next leg higher. If the level fails, momentum could weaken, delaying any attempt to reach $7.
Price Compression Builds as Moving Averages Converge
At the time of writing, NEAR to USD trades around $2.81.
On the daily chart, four major exponential moving averages (20-day, 50-day, 100-day, and 200-day) are clustered tightly between $2.71 and $2.86. When moving averages compress in this way, it usually signals indecision in the market and often precedes a strong breakout.
The relative strength index (RSI) sits at 50, which is neutral. This shows that NEAR is neither overbought nor oversold, leaving room for a sharp move once momentum builds.
The analyst’s $7 target is linked to resistance levels from early 2024. If the token can rebound from the $2.6 base, $7 becomes the next logical ceiling on the chart.
Nearly Half of Near Protocol Supply Locked in Staking
Staking data shows 575.3 million NEAR locked with validators out of a total supply of 1.27 billion—about 45%.
High staking levels reduce the amount of tokens available on exchanges, which can make price movements more pronounced once demand rises. NEAR currently has 290 validators, which supports network security and decentralization.
DeFi activity on Near Protocol, measured by total value locked (TVL), is at $174.5 million. This figure is down 5.9% in the past 24 hours, showing a decline in liquidity. While this signals weaker short-term engagement, TVL remains above earlier 2025 lows, suggesting some resilience in the ecosystem.
In futures markets, open interest in NEAR contracts has climbed to about $421 million. Open interest reflects the number of unsettled futures positions and signals how much capital traders are committing. Rising open interest often points to greater speculation. If this is matched by spot demand, it can strengthen rallies.
If not, it raises the risk of sharp corrections.
