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NEAR token jumps 12.6% in 24 hours, nearing $6 amid supply cut proposal and mixed technical signals

Technical Signals
12 Oct 2026
Crypto Daily
View Source
Bullish
NEAR token jumps 12.6% in 24 hours, nearing $6 amid supply cut proposal and mixed technical signals

NEAR's price surged 12.6% in the last 24 hours to about $5.93, pushing its weekly gain to 21.4%, with strong trading volume near $1.18 billion. The token is close to breaking the key resistance at $6.14, but short-term technical indicators like the bearish hourly MACD and a near-overbought RSI suggest possible consolidation or pullback. A formal proposal aims to reduce NEAR's annual issuance from 2.5% to 1.6% over two years, potentially supporting price by limiting supply if adopted by validators. The immediate price action will depend on whether NEAR can hold support around $5.50-$5.60 and break above $6.14 to confirm sustained buying interest.

NEAR is trading at Rp103.837 on Pluang, up 10.46% as of Oct 12, 2026 16:21 WIB, showing strong momentum consistent with the recent price surge mentioned in the news. The platform reports a market cap of Rp136,17 trillion and a 24-hour trading volume of Rp26,2 trillion, indicating active investor interest. Despite the article's note of potential short-term consolidation, Pluang data reflects continued robust trading activity with a typical hold time of 51 days.

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