Near Protocol (NEAR) reclaims the 50-day moving average as it barely holds above the consolidation range, even with NEAR intents crossing an all-time volume. However, on the broader time frame, NEAR has crashed to an accumulation zone that produced massive rallies back in 2021, 2022, and 2024. An analyst predicts the token could hit $25 if history plays out.
NEAR manages to hold above $1.90
After a brief stay above the 50-day moving average on the weekly chart, NEAR crashed below this major level last week. However, with the bulls coming to the rescue, the token quickly reclaimed this level. Not only did the bulls help the token reclaim the 50-day MA, they also stopped NEAR from crashing below the consolidation phase.
Now that the token has survived within this region, there could be more price movement within the consolidation range of $1.9 and $3.15 for something. A consolidation zone is a period where an asset trades within a narrow range as buying and selling pressure remain balanced. During this phase, traders accumulate or distribute positions while momentum and volatility gradually decline. Once either buyers or sellers gain control, the price typically breaks out of the range, setting the direction for the next major move.
NEAR Intents, TVL, and other on-chain activity stop the crash
There was also another major factor that gave NEAR steady support—the on-chain activity spiked up. For instance, the NEAR Intents trading volume hit an all-time high of more than $22 billion, while the Total Value Locked (TVL) grew to over $28 million.
The surge in NEAR Intents trading volume alongside TVL exceeding $28 million and other factors mentioned above in the X post likely provided the underlying demand needed to keep NEAR trading within its consolidation range. Without this sustained on-chain activity, the token could have been more vulnerable to a breakdown below support.
Although the above narrative looks as if NEAR survived a major crash, an analyst who goes by the pseudonym Noncler saw something important. In the weekly charts, the analyst spotted NEAR loitering around a support level that produced massive rallies during the past three years. Given that history repeats, Noncler is confident that NEAR could hit $25, a spike of 3000%.
