NEAR token slipped below the $2.00 resistance level on Wednesday, settling at $1.94 as selling pressure intensified. The cryptocurrency now faces a potential 14% decline to test the $1.67 support zone, according to market data. A recovery above $2.25 would require a noticeable uptick in trading volume to confirm the move.
Failed attempt at $2.00
The $2.00 mark had acted as a psychological barrier for buyers over the past week. NEAR briefly touched the level but failed to hold, triggering a wave of sell orders. Aggressive sellers have since pushed the price lower, leaving little room for a quick rebound. Traders are watching closely to see if the asset can stabilize before slipping further.
It's a familiar pattern for altcoins in a risk-off environment. Without a fresh catalyst, the token's momentum has stalled. The $2.00 level now flips to resistance, making any near-term rally harder to sustain.
Testing support at $1.67
The next major floor sits at $1.67, a level that's held twice before in the past three months. A drop to that price would represent a 14% decline from current levels. That's a steep move for a single session, but the selling pressure shows no sign of easing yet.
If $1.67 breaks, there isn't a clear support line until $1.50. That's a risk buyers aren't ignoring. Volume data suggests sellers remain in control — exchange order books show more asks than bids at current prices.
What it'll take to recover
Getting back above $2.25 would require a serious volume spike. The token would need to overcome resistance not just from $2.00 but also from the $2.10–$2.15 zone where sellers previously stepped in. Without higher trading activity, any rally is likely to fade.
Volume has been below the 20-day average for most of the week. That's a red flag for breakout attempts. Buyers need to show up in bigger numbers, and fast, or the slide could accelerate.
The broader crypto market isn't helping. Bitcoin's own struggles have drained liquidity from altcoins, leaving tokens like NEAR more exposed to sudden selloffs. For now, the path of least resistance is lower.
The question hanging over the token: will enough volume materialize to defend $1.67, or is a deeper correction ahead?
