NEAR has fallen below a key support level, putting the next area of focus near the $1.70 price range as analysts assess whether the altcoin can regain upward momentum.

Prices across several crypto assets have continued to move sideways, prompting market analysts to debate possible higher and lower targets for Bitcoin, Ethereum and other altcoins. Some analysts are also monitoring altcoins such as FET and NEAR, which they say have shown signs of potential price moves. NEAR is the native token of NEAR Protocol, a layer-1 blockchain network, which means its market performance is often discussed alongside other smart-contract platform tokens. For NEAR, however, the loss of a key support level has weakened bullish commentary for the time being.

NEAR Loses Key Support Level

According to CoinMarketCap analytics, NEAR is currently trading at $1.79, showing a small move higher on the day. On longer-term charts, however, the asset is down by more than 6.9% over the past seven days, down 1.65% over the past 30 days, and down by more than 37% over the past 30 days, according to the source text. Analysts are now discussing the altcoin’s next possible price action.

One analyst and trader highlighted that NEAR had lost an important support level. In technical analysis, support levels are price areas where traders watch for demand to appear after a decline; a break below such a level can shift attention to the next area where buyers may respond. After losing that level, the analyst suggested NEAR could face a further price dip, potentially moving toward a lower target. That lower target is expected to depend on how the asset reacts to the next nearby price zone, which is now identified around the $1.70 range.

Another crypto analyst and altcoin enthusiast added to the discussion by saying that NEAR’s price is breaking down. If that scenario develops as described, the analyst said NEAR could present traders and investors with an opportunity to accumulate the token over the coming weeks. In particular, the analyst described the move as a strong opportunity to buy NEAR if the price declines toward the $1.30 to $1.50 range.

Can NEAR Turn Bullish Again?

The broader crypto market is currently described by analysts as being in a sideways slump. At the same time, one previously cited Bitcoin bear-market bottom estimate in the $40,000 range has reportedly been revised upward, with a new expected Bitcoin bear-market bottom target in the $54,000 range.

The trader who made that revised call has reportedly begun steadily accumulating BTC between the $54,000 and $64,000 price range. The same analyst also said he would be accumulating ETH and COIN, suggesting that some major crypto-related assets could also be in accumulation phases.

Those views appear to overlap with the NEAR-focused analysis, as analysts continue to watch whether Bitcoin and selected altcoins can move higher in the coming weeks and months. For altcoins, Bitcoin’s direction and overall risk appetite can affect whether individual technical setups gain follow-through or fail. For NEAR, the immediate focus remains on whether the token can hold or respond around the $1.70 level, or whether it moves toward the $1.30 to $1.50 range cited by analysts.