NEAR slips below $5 despite $5.42m ETF inflow

Key takeaways

• NEAR extended its losses from Monday, falling 7% on Tuesday to around $4.70.
• Bitwise’s NEAR ETF pulled in $5.42 million on Monday, adding to a three-week streak of inflows.
• To strengthen a bullish recovery, buyers must clear a key resistance zone near $5.02.

NEAR retreats despite continued ETF buying

NEAR Protocol fell more than 7% on Tuesday, continuing the downturn from the previous day as waning short-term momentum countered persistent buying in its exchange-traded fund.

At the time of writing, the token was trading near $4.70, remaining trapped beneath a dense resistance region around $5.02.

Data from SoSoValue reveals that Bitwise’s NEAR-focused ETF (NRR) recorded $5.42 million in net inflows on Monday. This momentum follows three consecutive weeks of positive flows that totaled over $80 million.

While these figures highlight ongoing institutional demand through the fund, they have not prevented the token’s current pull-back. ETF activity reflects just one investment channel and does not dictate broader market direction on its own.

On Monday, NEAR released its Q3 2026 report, pointing to steady progress across its multichain transaction infrastructure.

Total cumulative volume processed through NEAR Intents topped $32 billion, representing a gain of roughly 45% compared to the cumulative figure reported in the prior quarter.

The protocol also disclosed that more than $8 million in collected fees had been allocated toward repurchasing tokens.

Additionally, total value locked in its privacy-focused Confidential Intents reached approximately $160 million, reflecting an increase of about 463%.

These data points show expanding utility across NEAR’s ecosystem. However, rising network usage and token buybacks do not guarantee an immediate market rebound.

Resistance around $5.02 caps recovery attempts

On the four-hour chart, NEAR remains capped beneath both its 50-period Exponential Moving Average at $5.0179 and a downward trendline positioned near $5.0261.

Together, these two technical barriers form the primary obstacle standing in the way of a short-term momentum recovery.

A sustained breakout above $5.0261 would reinforce the bullish case and shift focus toward the September 28 peak at $5.5780. Beyond that level, the psychological $6.00 mark serves as the next upside target.

Until NEAR manages to clear this resistance zone, short-term bounces remain vulnerable to selling pressure. On the daily chart, the Relative Strength Index sits near 50, indicating subdued momentum below its neutral midpoint.

Furthermore, the Moving Average Convergence Divergence line has edged slightly below its signal line, signaling that upward pressure is tapering off.

These indicators point to a cautious short-term outlook, though they do not confirm that the broader uptrend has reversed.

NEAR continues to trade above its 200-period EMA near $4.5513, preserving a key line of technical defense.

If the correction deepens, the 200-period EMA around $4.55 stands as the initial support area.

Below that, horizontal support at $4.4440 marks a level that limited losses during the October 8 pull-back. Holding above this region keeps the structure of the broader uptrend intact.

A decisive break beneath both support levels would weaken that structure, increasing the likelihood of a further decline toward $3.9140, the September 19 peak.

For now, NEAR’s price trajectory depends on whether buyers can hold key support levels and push through the $5.02 resistance wall, even as network metrics and ETF inflows remain positive.