Key Takeaways
- NEAR retraced post-Solana integration rally as momentum quickly faded.
- The price remains trapped below key resistance, with bearish indicators.
- Meanwhile, strong holder retention hints at potential long-term recovery.
NEAR, the native token of the layer-1 blockchain NEAR Protocol, failed to sustain a short-lived rebound on Thursday, quickly surrendering gains despite a high-profile ecosystem update.
The pullback followed confirmation that the NEAR crypto is now live on Solana, enabling cross-chain functionality via NEAR Intents and Orb Markets.
However, this announcement initially lifted sentiment but failed to translate into lasting price strength.
The project’s debut on Solana briefly pushed NEAR’s price to $1.56, triggering calls for a move toward $2.
Instead of building momentum, NEAR has since retraced the entirety of that move and now trades at its lowest level since the fourth quarter of 2023.
So what could be next for NEAR’s price?
NEAR Protocol Trapped Below Resistance
At the time of writing, NEAR is changing hands for around $1.46. On the weekly chart, the cryptocurrency remains confined within a falling wedge structure.
The formation follows a series of failed attempts to reclaim overhead resistance near the $3 mark. As seen below, NEAR’s price has experienced rejection from this zone three times.
The first rejection occurred on May 12, followed by another on Sept. 22, and a third on Nov. 17, with each attempt attracting sellers more quickly than sustaining demand.
Until it clears that resistance, the rallies might appear vulnerable to being sold into, leaving NEAR exposed to further consolidation.
Furthermore, the same chart shows that the Moving Average Convergence Divergence (MACD) has remained negative and formed a bearish crossover.
Should this trend persist, the NEAR crypto price may fail to break out towards the upper resistance level.
Bullish Vision Meets Caution
As mentioned earlier, this technical setup is surprising considering the recent announcement.
On Nov. 1, NEAR and Solana jointly confirmed an integration that enables users to transfer assets between their chains instantly, bypassing conventional bridges, wallet fragmentation, and gas fees.
Notably, before the announcement, Helius Labs CEO Mert Mumtaz had floated the view that NEAR could eventually rank among the top 10 cryptocurrencies.
“NEAR seems to me a top 2-3 underrated team in crypto, it’s the only technical team as talented as Solana with the results to show for it…it is also still founder-led with Illia (the guy who helped invent LLMs). If their GTM gets fixed, no reason why it’s not top 10,” Mumtaz
stated.
Long-Term Setup Strengthens
Meanwhile, despite the increasingly
fragile short-term structure, on-chain data suggests that longer-term holders are positioning for an explosive move.
Data from Glassnode shows the Holder Retention Rate currently stands at 94.30%, marking its highest reading since July.
While this does not negate the prevailing bearish trend, it suggests that a significant portion of holders are choosing to hold rather than distribute.
- NEAR Holder Retention Rate | Credit: Glassnode
If this trend continues, the NEAR crypto price may avoid sliding to a new all-time low in the coming months.
NEAR Price Prediction
A closer look at the daily chart shows that NEAR’s price has yet to reclaim its descending resistance line.
At the same time, the Awesome Oscillator (AO) continues to print below the zero line, signaling that bearish momentum has yet to unwind fully.
The Supertrend indicator further supports this outlook, with its red band positioned above the spot price.
As long as this configuration persists, NEAR is likely to remain capped below the $2 level. In short, it could decline as low as the $1.30 region.
That said, the outlook is not entirely one-sided. If accumulation continues to build, the current trajectory could shift, especially as the market looks ahead to 2026.
Under a scenario of improving demand and sustained buying pressure, NEAR’s price could attempt a recovery toward $1.86 in the first quarter.
In a more optimistic case, a breakout could carry the token toward $2.15, aligning with the 0.382 Fibonacci retracement level.
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
