NEAR Protocol (NEAR) bounced back in the past 24 hours, climbing 11.67% to around $2.08 as investors came back after a stretch of selling. Trading activity also picked up, with daily volume rising 25.41% to about $625 million.
The increase in both price and trading volume suggests new money is driving the rally, not just short-term market moves. Earlier this week, NEAR dipped to about $1.85, which drew in buyers and set up a strong support level.
As buyers returned, confidence grew around the key $2.00 mark. Although the recovery has lifted sentiment, traders are watching to see if NEAR can break past resistance near $2.20, which could shape the next trend.
Binance Data Signals Continued Optimism
Experienced traders are still mostly bullish, even after recent swings. Binance data shows 62.51% of open positions are long, while 37.49% are short. This gives a Long/Short Ratio of 1.67, showing traders still expect more gains.
Several factors support this constructive outlook:
- Long positions account for more than 62% of trader exposure.
- Trading volume increased to $625 million during the rally.
- NEAR successfully reclaimed the critical $2.00 price level.
- Bullish positioning has remained elevated throughout the recovery phase.
This shows that many big traders see the recent drop as just a correction, not the start of a long-term decline. While too many long positions can sometimes lead to liquidation risks, the current mood seems balanced, not overly risky.
Technical Indicators Point Toward $2.80 Target
Looking at the charts, NEAR’s market setup has gotten much stronger. The coin held support near $1.857 and then moved up toward resistance at about $2.207. This bounce came after a sharp drop that wiped out gains from a double-top pattern near $2.80.
Momentum indicators are starting to stabilize. The Relative Strength Index (RSI) bounced back to 51.01 after dropping near 40 during the sell-off. Although it’s still below its moving average of 61.46, it’s no longer oversold and shows buying momentum is picking up.
At the same time, heatmap data shows many leveraged positions between $2.13 and $2.15. Markets often move toward these areas because forced liquidations can create more trading activity. There are also liquidity pockets from $2.18 to $2.20, making this range important for short-term moves.
If buyers can push NEAR above $2.20, the token might move toward higher liquidity zones and possibly test the main resistance near $2.80. If it doesn’t break this level, NEAR may keep trading in its current range until momentum builds.