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NEAR price falls below $5, liquidating $20M in longs amid market sell-off

Technical Signals
29 Sep 2026
AMBCrypto
View Source
Bearish
NEAR price falls below $5, liquidating $20M in longs amid market sell-off

NEAR Protocol's price dropped below the key $5 support level to a low of $4.60, falling 7.9% amid a broader crypto market pullback. This decline triggered a long squeeze, liquidating over $20 million in leveraged long positions and causing panic selling among traders. Despite increased derivatives volume and falling open interest indicating risk-off sentiment, spot market buyers stepped in to accumulate NEAR at discounted prices, offering potential support. If buying pressure holds, NEAR could recover above $5; otherwise, further declines to around $4.40 are possible.

NEAR Protocol is trading at Rp86.150 on Pluang as of Sep 29, 2026 18:23 WIB, down 5.21% in the last day, which aligns with the reported price drop below $5. Despite this decline, the market shows balanced activity with 56% sell and 44% buy orders, indicating some accumulation interest. The circulating supply stands at 1.3 billion NEAR, with a market cap of Rp112.27 trillion, reflecting significant investor engagement even during the recent volatility.

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