NEAR Protocol has recovered above the $2.70 level after finding support near $2.30–$2.35, with the $2.75–$2.80 zone now acting as resistance. The move comes as confidential total value locked (TVL) on the network reached $70 million, a figure analyst Michael van de Poppe highlighted as evidence of continued fundamental growth. On the one-hour chart, the RSI reached 72.60 while the MACD remained positive, pointing to strong momentum alongside an overbought short-term condition.

CryptoBullet Maps Long-Term Accumulation Structure

Analyst CryptoBullet said in an X post that NEAR has printed an accumulation structure since March 2025, comparing the setup with a classic inverse head-and-shoulders pattern forming below $3. The inverse head-and-shoulders is a formation chartists have long read as a potential trend-reversal signal. According to the analyst, the left shoulder would need a couple more months to take shape, and NEAR should break out in 2027. The analysis was illustrated on a TradingView chart.

Confidential TVL Reaches $70 Million

NEAR Protocol separately reported that confidential TVL on near.com reached $70 million. Van de Poppe called the numbers "phenomenal" and cited continued fundamental growth. TVL, a widely tracked gauge of the capital deposited in a network's applications, is often read alongside price action as a check on whether a move has fundamental backing — the lens van de Poppe applied to the figure.

Santiment Describes a Selective Recovery

Santiment Intelligence said September's pullback began before the CLARITY vote, and its seven-day screen showed red readings across the assets it tracks. According to Santiment NEAR's bounce appeared selective rather than a reflection of broader market strength, and it linked recent moves mainly to upgrade narratives and technical rotation.

That characterization stands apart from van de Poppe's fundamental-growth reading, leaving NEAR's move seen through two lenses: on-chain capital growth on one side and a broadly weak market backdrop on the other.

Santiment also contrasted NEAR with PUMP and RAIN. PUMP's weekly decline aligned with buyback and tokenomics concerns, while RAIN faced unlock and delisting pressure.

NEAR Pushes Above $2.70

On the one-hour chart, NEAR held support around $2.30 to $2.35 between Sept. 13 and Sept. 16. Price then moved through $2.40, $2.50 and $2.60, reaching about $2.75 before trading around $2.735.

Volume expanded to roughly 325.12K, with several upward candles showing noticeable spikes. The one-hour RSI stood at 72.60 against a moving average of 71.39, placing the indicator above the 70 threshold that marks overbought conditions. The RSI nonetheless remained elevated without a clear collapse.

The MACD stayed positive, with its line at 0.077 and the signal line at 0.068. The histogram stood at 0.009, with the MACD line remaining above the signal line.

Near-term resistance sits around $2.75, followed by $2.80. Support has developed around $2.65 to $2.70, with deeper support near $2.60. A rejection near $2.75 to $2.80 could lead to consolidation or a pullback. How price behaves at that zone, and whether the RSI cools from overbought territory, are among the near-term markers traders can track.