Bitwise's NEAR ETF secured NYSE Arca approval, boosting investor optimism.
Near Intents reached record TVL while supporting token buybacks and burns.
NEAR faces resistance near $5, with bulls targeting $8 to $9.
Near Protocol has grabbed traders' attention after a powerful price rally. The token rebounded sharply from a brief correction and posted gains of roughly 26% within days. Fresh excitement around a major ETF development helped fuel buying interest. Strong network growth added another layer of support. With momentum building and market sentiment improving, many investors now wonder whether NEAR can extend gains toward higher price targets.
https://twitter.com/CryptoAmb/status/2103832738029555746 Bitwise ETF Development Boosts Market Confidence
NEAR's latest rally followed an important milestone for a proposed Bitwise NEAR ETF. According to a recent SEC filing, the fund received approval to list and trade on NYSE Arca under the ticker NRR. The product would use Coinbase as custodian. The trust also plans to stake NEAR holdings. Around 67% of staking rewards would remain with the fund. Although final effectiveness still awaits SEC approval, optimism has grown.
Bitwise recently hinted that trading could begin soon. A social media post pointed toward September 29, 2026, as a key date. The development matters because exchange-traded funds often increase market accessibility. Greater access can attract new investors and improve liquidity. Bitwise also outlined an ambitious long-term outlook. A base case projected a price of $155 by 2030. A bullish scenario suggested a potential rise toward $562. The firm's bear case stood at $1.63.
Such forecasts should be viewed cautiously. Still, market participants often react positively to ETF progress. That response appears visible in NEAR's recent price action. Beyond ETF optimism, network fundamentals remain strong. Near Intents has become a major growth driver for the ecosystem. Total value locked has climbed steadily since launch.
Can NEAR Finally Break Above $5?
Despite strong momentum, bulls continue to battle resistance near $5. Recent trading activity suggests some investors are taking profits after the sharp rally. Data showed more than 760,000 NEAR sold on Binance's NEAR/USDT spot market. That selling pressure arrived shortly after price touched $5.207. Technical indicators reflect moderate cooling.
The Relative Strength Index slipped from 66 to 61. Even so, the reading still points to healthy momentum. The broader chart structure remains constructive. NEAR continues to form higher highs and higher lows. Such patterns often signal sustained buying interest. A bearish scenario could push the price back toward $4.50. Additional weakness may lead to lower levels.
On the bullish side, ETF-related optimism could provide another catalyst. If buying pressure returns, analysts see potential for a move toward the $8 to $9 range. For now, NEAR remains one of the more closely watched altcoins. Strong ecosystem growth and ETF progress have created a favorable backdrop. The next battle around the $5 level could determine where price heads next.