- NEAR rebounds 20% as Bitcoin’s $65K breakout could unlock a move toward the €2.55 price target.
- NEAR’s recovery from €1.60 lifted the price above €1.73 as RSI moved back toward neutral territory.
- Arthur Hayes exited NEAR before outlining his cautious market view in the “Reality Test” essay.
NEAR has rebounded roughly 20% from its recent low, outpacing other digital assets still struggling to establish a recovery. Market analyst Michaël van de Poppe described the token as one of the market’s stronger assets and linked its next move to Bitcoin’s performance.
The analyst said a Bitcoin break above $65,000 would strengthen the case for NEAR to return toward its recent highs. His latest chart places the token near €1.90 after recovering from a marked demand zone below €1.70.
NEAR Rebounds 20% From the €1.60 Accumulation Zone
The four-hour NEAR/EUR chart shows price rising from approximately €1.60 to €1.90, matching a measured rebound of €0.323, or 20.47%. The candle recorded an open near €1.802, a high of €1.901, and a close around €1.897.
That move carried price back above the €1.734 horizontal 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.
Besides, the relative strength index recovered toward the neutral 50 level after approaching the lower 25 region. This shows selling pressure eased, although the indicator had not entered overbought territory.
The chart’s lower green zone spans roughly €1.45 to €1.67 and is marked as a potential accumulation area. Trading volume also expanded during the decline from the €2.55 region.
Bitcoin’s $65K Level Sets the Condition for Further Upside
In another X post, Van de Poppe identified €2.008 as the next important chart level. According to his analysis, a sustained move through that area would place NEAR closer to the previous range and the major €2.552 resistance.
He also cautioned that the initial response still needs confirmation. The analyst said another test of the lows would not be surprising before a stronger rally develops.
However, his outlook remains dependent on Bitcoin consolidating and showing mean reversion. Under that condition, he expects stronger assets to recover faster than weaker parts of the market.
Arthur Hayes Sells NEAR Ahead of His “Reality Test” Essay
The rebound came shortly after BitMEX co-founder Arthur Hayes disclosed that he had sold his entire NEAR and HYPE holdings. Hayes said he would explain the decision in an upcoming essay titled “Reality Test,” scheduled for publication the following Tuesday.
He said the essay would examine several factors behind his cautious market outlook. These include rising energy prices linked to the Iran conflict, inventory restocking, and three major artificial intelligence IPOs expected by the early third quarter.
Hayes also expects broader markets to reach their highs between now and September, prompting him to secure profits and reduce his exposure.
Overall, the two views capture a clear market divide. NEAR’s chart shows a strong short-term recovery, while its next direction remains tied to resistance levels and Bitcoin’s $65,000 threshold.
Related: Crypto Market Watch: CPI and Macro Data Take Center Stage
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
