NEAR Protocol Price Forecast: NEAR rally stalls below $6 amid firm ETF inflows

• NEAR Protocol ticks lower on Monday after rallying around 30% over the past three days.
• Bitwise’s NEAR-focused ETFs recorded over $13 million in total inflows last week, signaling persistent institutional demand.
• NEAR intents confidential TVL rose to $166.9 million on Sunday, the highest level so far this month, suggesting renewed user demand.

NEAR Protocol (NEAR) is down 3% at press time on Monday, ticking lower after rallying 30% over the last three days as buying pressure eases. The recovery aligns with Bitwise’s NEAR-focused Exchange Traded Fund (ETF) recording its second weekly inflow of over $13 million last week, while NEAR intents confidential TVL rose to $166.9 million on Sunday. The technical outlook for NEAR remains bullish, as upside momentum persists.

NEAR gains institutional and retail demand

Bitwise’s NEAR-focused ETF (NRR) recorded its second consecutive weekly inflow of $13.05 million, down from $58.35 million in the previous week, suggesting persistent institutional demand for the Layer-1 token. 

On the other hand, NEAR’s star product, Intents, a cross-chain transaction and liquidity protocol, is attracting user demand. NEAR Protocol’s official revenue dashboard shows the Total Value Locked (TVL) in confidential intents rose to $166.9 million on Sunday, reaching its highest level so far this month, marginally below its all-time low of $187.3 million on September 27. This recovery in TVL indicates renewed demand for privacy-focused features of NEAR intents. 

Taken together, the steady ETF inflows and growing TVL of NEAR intents position the Layer-1 token for further upside.

Technical outlook: Will NEAR rally regain strength to surpass $6?

NEAR Protocol edges lower to $5.7030 at press time on Monday, down from the high of $6.0000 earlier on the day. NEAR token maintains a constructive bullish bias as price holds well above both the 50-period Exponential Moving Average (EMA) on the four-hour chart at $5.1901 and the 200-period EMA at $4.2899.

Momentum is holding bullish on the four-hour chart, with the Relative Strength Index (RSI) around 61 and the Moving Average Convergence Divergence (MACD) rising above its signal line, suggesting that buyers retain control, even if upside momentum is no longer accelerating.

From a technical perspective, the 127.2% Fibonacci extension level, measured from $5.5780 to $4.3010, at $5.9253, capped gains earlier on the day. A confirmed breakout above this level could target the 161.8% extension level at $6.3671.

On the downside, initial support is seen at the reclaimed $5.5780 Fibonacci anchor, followed by a minor cushion around the 50-period EMA at $5.1901. Any deeper pullback could expose the 50% retracement at $4.9395.

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