We're seeing
$NEAR approach its first major weekly decision pivot at $4.70.
If we clear that region, I’ll be looking for the macro expansion toward $6–$7.
Personally, I don’t think price needs to break out immediately.
NEAR has rallied from the blue cycle acceptance channel into an extremely hot region within a matter of weeks.
That is very similar to the recovery from the 2022 bear market.
Price expanded out of the blue acceptance channel, consolidated beneath weekly resistance and rebalanced the move before eventually continuing higher.
A reversion toward $3.30–$3.60 at some stage would therefore make complete sense.
It would clear some of the late leverage, rebalance the liquidity created during this rally and test whether buyers are willing to defend the move away from the lows.
That would not invalidate the macro setup. In fact, it would create a far cleaner region to add to a higher-timeframe position.
Therefore, the roadmap is relatively simple.
Weekly acceptance above $4.70 opens the move toward $6–$7.
Rejection around these levels keeps $3.30–$3.60 as the main rebalancing region below.
We’re already positioned from $3.60 and up almost 30% from entry.
Now it’s simply a matter of seeing whether weekly resistance at $4.70 breaks first, or the market gives another opportunity to add lower.