NEAR Protocol’s native token, NEAR, has broken out of a major bullish reversal structure, putting a potential 135% rally toward $12 in focus following the debut of Bitwise’s NEAR ETF.
Inverse Head-and-Shoulders Targets $12 NEAR Token Price
NEAR was trading near $5.10 on Sept. 30, after decisively breaking above the $3.15 neckline of a large inverse head-and-shoulders pattern on its weekly chart.
The reversal setup has been developing since early 2025. It features a left shoulder near $1.70, a deeper head around $0.80-$0.90, and a right shoulder near $1.50-$1.60.
September’s breakout above the neckline was accompanied by a sharp increase in weekly trading volume, suggesting stronger conviction behind the move.
Using the pattern’s measured-move projection, NEAR could advance toward approximately $12.04. That would represent roughly 135% upside from current levels.
The token has also reclaimed its major weekly exponential moving averages, with the 20-, 50-, 100-, and 200-week EMAs clustered between approximately $2.31 and $3.26.
This strengthens the $3.15-$3.30 area as a potentially important support region if NEAR retraces.
There is, however, a near-term overheating risk. NEAR’s weekly relative strength index has climbed to around 77, putting it above the traditional overbought threshold of 70.
That leaves room for profit-taking or consolidation before another sustained leg higher. A pullback toward the former neckline would remain technically constructive as long as buyers defend the breakout zone.
Bitwise NEAR ETF Debut Boosts Market Optimism
NEAR’s breakout has coincided with a series of ecosystem catalysts, led by the launch of the Bitwise NEAR ETF under the ticker NRR on NYSE Arca on Sept. 29.
The ETF gives US investors regulated spot exposure to NEAR without requiring direct ownership or custody of the cryptocurrency. Bitwise has also said it intends to stake the fund’s NEAR holdings, allowing staking rewards to accrue to the fund.
The debut potentially expands NEAR’s reach among traditional investors and gives the token a new institutional access channel.
Meanwhile, NEAR has continued building around cross-chain financial infrastructure.
Its Confidential Intents ecosystem recently surpassed $70 million in total value locked, while an integration with Ondo Finance has expanded access to tokenized U.S. stocks and ETFs for eligible users.
NEAR’s broader roadmap also emphasizes cross-chain execution and AI-agent infrastructure, giving the token exposure to two of the crypto market’s more prominent growth narratives.
