NEAR Protocol (NEAR) traded around $3.03 on Sept. 24, with analysts pointing to $5 as the next target and $10 as a possible extension. Strong technical levels, high staking participation, steady DeFi use, and growing futures activity are supporting the bullish view.
Chill on Value, a trader on X, said NEAR has broken out of a long consolidation and could now climb to $5. He explained that $10 is a realistic level in a regular market cycle, while $20 would require extreme speculative conditions. His argument is based on how tokens usually recover in stages: they first retest old resistance levels before attempting larger moves.
Joe Mitoshi also sees strength in NEAR. He noted that the token’s support levels are holding well. Support refers to price zones where buyers consistently step in, preventing deeper declines. Mitoshi said this stability could allow NEAR to extend toward $10 in the coming weeks. Both traders agree that $5 is the first milestone to watch.
The daily chart shows NEAR trading above its 20-, 50-, 100-, and 200-day moving averages, which are all between $2.66 and $2.85. Moving averages are widely used by traders to track the overall trend. The 200-day average, in particular, is often seen as the dividing line between bearish and bullish markets. NEAR price closing above this level for the first time in months signals improving conditions.
The relative strength index (RSI), a momentum indicator, is around 60. RSI measures the speed of price changes on a scale of 0 to 100. Readings above 70 suggest overbought conditions, while below 30 suggest oversold. At 60, NEAR shows steady momentum but is not yet overheated, leaving room for more upside.
The next resistance lies between $3.30 and $3.50. Resistance levels are price zones where sellers tend to appear, often causing rallies to pause. If NEAR price breaks this zone with volume, the chart opens the path toward $4.50-$5.00, matching analysts’ expectations.
Nearly 573.7 million NEAR are staked across 291 validators, out of a total supply of 1.27 billion tokens. This means about 45% of all NEAR is locked for network validation. Staking reduces the amount of NEAR available for trading, limiting selling pressure on exchanges. It also shows confidence from long-term holders who earn rewards by helping secure the network.
In decentralized finance (DeFi), NEAR has a total value locked (TVL) of $189.2 million, up 3.2% in the last 24 hours. TVL refers to the total assets deposited in DeFi protocols such as lending platforms and decentralized exchanges. Higher TVL signals active user engagement and capital flowing into the ecosystem. NEAR also hosts about $195 million worth of stablecoins, which provide liquidity for trading and lending.
Together, staking and TVL show that a large part of NEAR’s supply is locked in long-term positions or put to use in DeFi, strengthening the token’s fundamentals.
Futures open interest (OI) on NEAR reached $392 million on Sept. 24, one of the highest levels this year. Open interest measures the value of outstanding futures contracts and shows how much capital is committed to trading. Rising OI during price gains often signals that more traders are betting on further moves.
High OI can act as fuel for rallies because leveraged positions add to market activity. At the same time, strong spot demand — shown in staking and DeFi — supports the sustainability of these moves.
