Near Protocol [NEAR] extended its recovery over the past 24 hours, climbing 11.67% to $2.08 at press time, as traders returned to the market following a period of heavy selling.
Notably, trading activity strengthened alongside the rally, with daily volume rising 25.41% to $625 million. This combination suggested that buyers did not rely on thin liquidity to drive prices higher.
Instead, fresh capital appeared to support the advance. The rebound also developed after NEAR briefly traded near the $1.85 region, where buyers previously stepped in aggressively. As a result, the market regained confidence around the $2.00 psychological level.
However, traders still faced overhead resistance, which continued limiting attempts to extend the recovery toward higher price zones.
Why are Binance traders staying bullish?
Market sentiment remained constructive despite the recent volatility.
At the time of writing, Binance’s Top Trader Long/Short Ratio showed that 62.51% of positions stayed long, while only 37.49% remained short. The positioning produced a Long/Short Ratio of 1.67, highlighting continued confidence among larger participants.
The data suggested that experienced traders had not abandoned bullish exposure during the recent correction. Instead, they appeared to anticipate additional upside after NEAR reclaimed the $2.00 area. Although long-heavy positioning occasionally creates liquidation risks, the current structure reflected persistent optimism rather than excessive euphoria.
Furthermore, the ratio had remained elevated throughout much of the recent recovery phase, reinforcing the view that traders continued favoring higher prices.
NEAR challenges resistance as RSI rebounds
The technical structure improved significantly after NEAR defended the $1.857 support level and recovered toward the $2.207 resistance zone. The daily chart showed that buyers regained control after a sharp sell-off erased gains from the recent double-top formation near $2.80.
Since then, the price has steadily recovered and returned above the psychological $2.00 threshold. RSI also reflected improving conditions. The indicator previously dropped near the 40 level during the decline before rebounding to 51.01 at press time. Although RSI remained below its moving average of 61.46, it no longer signaled oversold conditions.
In addition, the latest sequence of higher lows suggested strengthening demand. Should buyers secure a decisive break above $2.207, the recovery structure would remain intact and could support a broader advance.
Liquidity clusters gather just overhead
Liquidation data revealed a growing concentration of leverage above current prices.
The Binance liquidation heatmap highlighted one of the largest liquidity clusters between roughly $2.13 and $2.15, directly above NEAR’s current trading range. Markets frequently gravitate toward these zones because forced liquidations create additional order flow.
For that reason, the cluster represented a potential short-term magnet for price action. Beyond that area, several smaller liquidity pockets extended toward $2.18 and $2.20. As buyers continued pushing upward, those positions could become increasingly vulnerable.
Nevertheless, traders would likely monitor whether NEAR could absorb profit-taking pressure around these levels before targeting higher resistance areas.
Can NEAR reach $2.80 next?
NEAR has already reclaimed key support and restored bullish sentiment among Binance’s top traders. RSI has recovered from oversold territory, while liquidation clusters have remained positioned above current prices.
If buyers clear the $2.20 resistance zone, price would likely target higher liquidity levels and could eventually challenge the major $2.80 resistance area. However, failure to overcome nearby resistance would keep NEAR trading within its current recovery range.
Final Summary
- NEAR reclaimed $2.00 as volume and trader confidence continued improving.
- Heavy liquidity above price could attract NEAR toward the $2.20 zone.
