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NEAR Overcomes Market Weakness With a 20% Rebound
$NEAR recovered by roughly 20% from its recent low, outperforming other digital assets that are still struggling to recover. Market analyst Michaël van de Poppe called the token one of the strongest assets in the market and linked its next move to Bitcoin’s performance.
The analyst noted that a Bitcoin breakout above $65,000 would strengthen the case for $NEAR returning to recent highs. His latest chart shows the token near €1.90 after recovering from the marked demand zone below €1.70.
$NEAR Rebounds 20% From the €1.60 Accumulation Zone
The four-hour $NEAR/EUR chart shows the price rising from roughly €1.60 to €1.90, corresponding to a measured rebound of €0.323, or 20.47%. The candle opened around €1.802, reached a high of €1.901 and closed near €1.897.
This move pushed the price above the horizontal €1.734 level, which had acted as a nearby support and resistance boundary. $NEAR also moved above the short-term blue moving average, indicating improved momentum compared with the previous session.
Source: X.
In addition, the Relative Strength Index recovered to the neutral 50 level after approaching the lower 25 area. This shows that selling pressure has eased, although the indicator has not yet entered overbought territory.
The lower green zone on the chart ranges roughly from €1.45 to €1.67 and is marked as a potential accumulation area. Trading volume also increased during the decline from the €2.55 region.
Bitcoin’s $65K Level Sets the Stage for Further Growth
In another post on X, van de Poppe identified €2.008 as the next important chart level. According to his analysis, a sustained move through this area would bring $NEAR closer to its previous range and major resistance at €2.552.
He also warned that the initial response still requires confirmation. The analyst noted that another test of the lows would not be surprising before a stronger rally begins.
However, his outlook still depends on Bitcoin consolidating and reflecting mean reversion. Under such conditions, he expects stronger assets to recover faster than weaker market segments.
Arthur Hayes Sells $NEAR Ahead of His “Reality Check” Essay
The recovery came shortly after BitMEX co-founder Arthur Hayes said he had sold all of his $NEAR and HYPE holdings. Hayes said he would explain the decision in an upcoming essay titled “Reality Check”, scheduled for publication next Tuesday.
He noted that the essay would examine several factors behind his cautious market view. These include rising energy prices linked to the conflict in Iran, inventory restocking and three major artificial intelligence IPOs expected by the beginning of the third quarter.
Hayes also expects broader markets to reach highs between now and September, prompting him to secure profits and reduce his exposure.
Overall, these two views reflect a clear market divide. The $NEAR chart shows a strong short-term recovery, while the next direction remains tied to resistance levels and Bitcoin’s $65,000 threshold.
See also: "Bitcoin Recovers Above $64,000 as Derivatives Traders Trigger $282.5M in Liquidations"
