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NEAR is moving fast. The token trades at $5.29, after a 15.4% rise in 24 hours. Money is coming in too. Futures trading volume across the principal exchanges adds up to more than $2 billion in a day. Binance leads with approximately $962 million, followed by Bybit at $423 million and OKX at $338 million
The rally isn't new. NEAR is up 126% in 30 days and 174% in 90 days. This year it has gained approximately 249%
The daily chart shows why. Price sits well above every moving average, and the 200-day line is far below at $2.64. Even the red 50-day line at approximately $4.06 is a long way down
Not everything is smooth. NEAR failed to hold above $5.50 earlier this month, and a sharp drop took it to approximately $4.30 before buyers stepped in. Over the last 24 hours, price ran from $4.58 to a high near $5.39, and it now trades near the top of that range. Over the past four hours, the move has slowed, with just a 0.49% gain
Derivatives traders lean long, but not extremely. The Binance long/short ratio is 1.31 and OKX shows 1.21. Top traders on Binance are more bullish by position size, with a ratio of 2.55. Liquidations were small for such a big move, approximately $6.9 million in 24 hours, and $4.78 million of that came from shorts. That means the climb squeezed bears more than it wiped out bulls
Short-term flows are mixed. Futures saw net outflows of $6.85 million over four hours, which hints that some traders are taking profit. Spot markets show net inflows of approximately $905,000 in the same period, a better sign as it points to real buying
NEAR now needs to hold the $5.00 level to keep the trend healthy. Below that, the faster averages near $4.88 and $4.70 are the next support. A clean move above $5.40 could bring the recent peak near $5.90 back into play. After a 174% run in three months, a pause would not be surprising. For now, volume and trend are on the bulls' side, and dips are being bought
