NEAR Protocol's token price recovered 2.55% to $1.85, but the bounce is already running into trouble. Short-to-medium-term moving averages are acting as overhead resistance, and the market's appetite for selling remains strong.
Sellers still in control
Taker sell volume is running nearly 2:1 against buyers. That means aggressive sellers are dominating the order book, making it hard for any rally to gain traction. The price move looks more like a temporary reprieve than a real reversal. Until the selling pressure eases, any upward push will likely be short-lived.
Why $1.91 matters
Bulls need to clear $1.91 to turn the current bounce into something more durable. That level sits just above the moving averages that have been capping gains. If the token can't break through, the move is considered a fade — a quick pop that fizzles out. The data suggests that without a decisive close above $1.91, the path of least resistance remains lower.
Traders are watching for a potential drop to $1.76 before any sustained move toward $2.00. That would mean a roughly 5% decline from current levels before buyers step in again. The $2.00 target is still on the table, but it's conditional on first shaking out weak hands at the lower support. Whether the token can hold $1.76 or gets pushed further down will depend on whether the sell volume ratio shifts back in favor of buyers.
