NEAR Protocol Wave Analysis - 29 October 2026
Published on October 29, 2026
Market Overview
As of October 29, 2026, various financial instruments are experiencing fluctuations. Notably, Bitcoin is priced at $80,147.63, showing a decline of 1.44%. Ethereum is at $2,317.06, down by 1.90%. Gold is trading at $4,026.39, down by 1.00%, while Brent crude oil is at $109.742, down by 0.45%.
NEAR Protocol Analysis
The NEAR Protocol cryptocurrency has recently shown a reversal from a significant support level of $4.340. This level has proven to be a strong point, halting the downward movement that began in early October. The price action indicates that NEAR has completed a short-term impulse wave (i) and is now entering a corrective phase (ii) of the C-wave within the broader ABC correction pattern that started in mid-October.
Technical indicators suggest that NEAR Protocol is likely to rise towards the next resistance level at $5.000. This resistance level has historically reversed the price since the end of September, making it a critical point for traders to watch.
Conclusion
Given the strength of the support at $4.340, there is a bullish outlook for NEAR Protocol, with expectations of a price increase towards $5.000. Traders should monitor these levels closely as they could indicate potential trading opportunities.