near

NEAR spiked, got rejected, and is now coiling at the 0.236 Fibonacci. One crypto analyst sees a market bottom forming this weekend and has already placed his bet.
Key Takeaways:
NEAR spiked from $1.30 to $2.97 within days in late May.Price now consolidating just below 0.236 Fib at $2.47.RSI cooled from overbought to 65.10 without breaking down.Van de Poppe trimmed first NEAR trade at €2.25, opened second long.Lower timeframe compression could precede a strong directional move.
NEAR is trading around $2.34 at the end of May, sitting below the 0.236 Fibonacci level at $2.47 after one of the sharper moves in the altcoin space this month. From a base around the 0.786 level at $1.30, price ran nearly 130% in a matter of days, tagging $2.97 before sellers stepped in. That upper level corresponds exactly to the 0 Fibonacci extension on the daily chart. The rejection there was clean and fast.
The pullback brought price back to test the 0.236 level from below. Whether it holds as support or gives way is the question the next few sessions may answer.
The RSI tells a more measured story. It reached 72.66 on the signal line at the peak of the move, technically overbought territory. Since then it has cooled to 65.10, still elevated but no longer excessive. That kind of controlled pullback, without a full RSI collapse, tends to leave more room for continuation than an immediate reversal.
All three moving averages sit well below current price. The 50 SMA is at $1.62, the 100 at $1.51, the 200 at $1.43. None are close enough to act as near-term support. If the 0.236 level at $2.47 loses cleanly, the next meaningful Fibonacci floor could be the 0.382 at $2.16, with open air between the two.
Van de Poppe Sees Compression, Not a Top
Michaël van de Poppe has been active on NEAR through this entire move. He trimmed most of his first daytrade position at €2.25 and got stopped out on the remainder at entry, banking profits while keeping risk contained. His read on the current situation is not that the move is finished.
https://twitter.com/CryptoMichNL/status/2060702012640051568
According to van de Poppe, the lower timeframe structure is showing lower highs and lower lows, which he interprets as compression rather than distribution. "Compression is being established," he wrote, "which means that there's going to be a strong move on the horizon." The direction of that move is what he is positioning around.
His broader market thesis adds context. He believes crypto markets have been running a rhythm this year of strength in the first two weeks of each month followed by weakness in the final two weeks, with lows tending to form around the 30th and 31st. A sweep of recent lows has already occurred, which he sees as a potential setup for a reversal into June. Based on that, van de Poppe opened a second long on NEAR with reduced sizing, acknowledging the lower timeframe downtrend but positioning for a bounce from the weekend low.
If the trade gets stopped out instead, his plan shifts to deploying capital from his altcoin portfolio back into NEAR at lower levels, with June 1st marked as his next DCA entry date. He described the zone around €1.60-1.75 as "a great area to be accumulating back in" if the market provides that opportunity.
Where the Trade Goes From Here
The bullish path depends on the 0.236 level holding and compression resolving upward. If NEAR reclaims $2.47 with conviction, it could retest the $2.70-2.80 area before running into heavier resistance. RSI staying above 60 and building rather than fading would support that scenario.
The bearish path opens if $2.47 breaks and selling accelerates. The 0.382 Fibonacci at $2.16 becomes the first level worth watching, and below that the 0.5 at $1.90 comes into view.
The chart is not ambiguous. Price is at a defined Fibonacci junction, RSI is at a neutral-to-elevated reading that could resolve either way, and van de Poppe has laid out exactly where he is buying and where he plans to exit. The next few sessions may determine which scenario runs.
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