NEAR Protocol jumped 10.39% to $1.50, breaking above its 20-day moving average in a move backed by strong whale positioning. Technical momentum now gives the token a 65% probability of reaching $2.10 within the next two weeks, according to market data.
Breaking above the 20-day moving average
The 20-day moving average is a key short-term trend line that traders watch closely. When an asset breaks above it on rising volume, it often signals a shift in sentiment from bearish to bullish. NEAR cleared that level on Thursday and has held above it since, drawing attention from momentum-driven investors.
The move came without any major protocol announcement or partnership news. That makes the price action largely technical in nature, driven by buyers stepping in after a period of consolidation below $1.40.
Whale positioning fuels optimism
On-chain data shows that large holders — commonly called whales — have been accumulating NEAR over the past week. Whale wallets holding at least 0.1% of the circulating supply increased their positions, a pattern that often precedes sustained rallies. When whales buy during a breakout, they tend to hold, reducing the available supply on exchanges.
That kind of positioning doesn't guarantee a straight line higher, but it does create a floor under the price. If retail traders pile in on top of that base, the move can accelerate.
Path to $2.10
The $2.10 level represents a resistance zone from earlier trading sessions in the month. With momentum indicators like the relative strength index still in neutral territory — not yet overbought — analysts say there's room to run before the rally exhausts itself.
The 65% probability cited by technical models assumes the broader crypto market stays relatively calm. A sudden downturn in Bitcoin or a regulatory shock could derail the move. But for now, the setup favors the bulls.
The next few days will test whether NEAR can hold above the 20-day moving average and build on the momentum toward $2.10.
