NEAR Protocol Price Forecast: ETF flows point to weaker demand as correction takes shape

• Thursday’s 5% decline in NEAR Protocol reverses most of the previous day’s 6% rally.
• Buying pressure appears to ease as NEAR-focused ETF flows turn mixed this week.
• Fading upward momentum leaves NEAR’s technical outlook pointing to a correction within the wider uptrend.

A 5% fall has taken NEAR Protocol (NEAR) below $5.00 at the time of writing on Thursday, reversing most of the previous day’s 6% rebound. After three successive weeks of inflows, mixed flows into the NEAR-focused exchange-traded fund (ETF) this week indicate softer buying pressure. NEAR’s technical picture remains mixed, with weakening upward momentum giving way to a corrective phase within the broader uptrend.

Institutional demand softens

Uneven flows into Bitwise’s NEAR-focused ETF (NRR) this week point to wavering institutional demand. According to SoSoValue, Wednesday brought $830,700 in inflows, following $2.54 million in outflows on Tuesday, the fund’s first-ever day of selling.

Following three consecutive weeks of inflows, the ETF has attracted $3.71 million so far this week, including Monday’s $5.42 million inflow. Ending the week in positive territory could allay concerns about institutional investors withdrawing.

Among retail traders, open interest (OI) in NEAR futures has risen from $1.47 billion on Monday to $1.67 billion on Thursday, pointing to a build-up of positions this week. A sustained increase in OI typically signals renewed trader interest in NEAR.

Technical outlook: NEAR builds momentum during a pullback

At $4.99 at the time of writing on Thursday, NEAR retains a neutral stance, although upside potential is slightly constrained. The four-hour chart shows the price below the 50-period exponential moving average (EMA) at $5.03, yet comfortably above the 200-period EMA at $4.61. This positioning points to consolidation within the wider uptrend.

On the downside, bullish support at lower levels rests on the rising trendline near $4.70, with further backing from the 200-period EMA and the 25 September low of $4.44. Should a break below $4.44 be confirmed, this near-term support cluster could be invalidated, raising the risk of a deeper fall towards support at $3.91, established by the 19 September high.

On the four-hour chart, a bearish crossover between the moving average convergence divergence (MACD) and its signal line remains a risk. Meanwhile, the relative strength index (RSI) sits around 47, below its midpoint, suggesting bullish momentum is weakening.

A return to an upward trend requires NEAR to clear resistance at $5.44, the 15 October high. That level halted Wednesday’s advance, resulting in a 5% fall so far today. A move above it could pave the way towards the 12 October high of $6.00.

(The technical analysis of this story was written with the help of an AI tool. Know more.)