Analysis
NEAR Touched $6.00, Then Fell 14%: A Second Failure at the Same Ceiling
NEAR reached exactly $6.00 early on October 12, its highest since January 2025, then closed down 13.62% at $5.093 on $241.5 million of volume. Our bullish NEAR setup was invalidated.
For the second time in five days, NEAR Protocol broke to a multi-year high and immediately reversed. On October 8, it reached $5.595 and closed 16% lower. On Monday, October 12, it touched $6.00 in the 04:00 UTC hour — its highest price since January 7, 2025 — and then sold off for most of the day, closing at $5.093, down 13.62% on $241.5 million of volume.
There was no single collapse. NEAR slid steadily, with its largest hourly drop a 3.9% move at 21:00 UTC, and touched $4.89 just after midnight on Tuesday before bouncing to about $5.34.
In Monday's signals, we published a bullish setup on NEAR with a daily close below $5.595 as the invalidation level. Monday's close of $5.093 broke that level, so the setup was wrong and is no longer valid. Two failed breakouts at higher and higher levels describe a market where buyers are still active — the October 8 low of $4.30 has held — but sellers are clearly waiting in the $5.60-$6.00 zone. Until one side gives way, NEAR is trading a wide range rather than a trend.