TLDR:
- NEAR price remains under pressure, but sentiment mirrors late-cycle skepticism seen in earlier market phases.
- The 1.80–1.95 resistance zone remains decisive for shifting momentum and restoring directional strength.
- On-chain data shows steady growth in transactions, developers, and active wallets despite volatility.
- Accumulation by large holders and NEAR Intents growth support expectations of a longer-term recovery.
NEAR is increasingly being discussed as a potential quiet setup rather than an immediate breakout story.
Market observers are weighing subdued price action against improving ecosystem data as 2026 enters longer-term forecasts. The debate centers on whether current conditions reflect structural weakness or delayed price discovery.
Recent commentary suggests sentiment around NEAR resembles late-cycle skepticism seen in previous market phases.
While price trades near multi-month lows, some analysts argue that pessimism may be overstated relative to on-chain trends. This divergence frames current coverage around patience rather than momentum.
Technical Structure Suggests Compression Rather Than Resolution
Market analyst Michaël van de Poppe, known as CryptoMichNL, shared views questioning prevailing bearish sentiment.
In a recent post, he described NEAR as undervalued, comparing current attitudes to the end of 2019. He pushed back against claims that tokens lack functional relevance.
$NEAR is an undervalued asset in the current markets.
The current market sentiment equals the same period as the end of 2019.
‘Tokens don’t have any impact, there’s no purpose for them.’
I disagree, and I think that the growth of the $NEAR ecosystem shows this.
NEAR Intents… pic.twitter.com/RO0R1wdLYS
— Michaël van de Poppe (@CryptoMichNL) December 13, 2025
From a technical standpoint, NEAR remains in a fragile position. Price is trading near its lowest valuation since October and November lows.
The short-term moving average continues sloping downward, reinforcing that sellers still dominate short-term control.
Price action shows consolidation above the 1.65 to 1.70 demand area. Repeated long lower wicks signal responsive buying interest.
However, follow-through remains limited, leaving support exposed if broader market pressure resumes.
Resistance between 1.80 and 1.95 remains decisive. This zone marks a prior breakdown and liquidity shelf.
Van de Poppe stated that reclaiming this range could restore bullish momentum. Failure to do so keeps rallies corrective.
Ecosystem Growth Fuels Breakout Discussion Toward 2026
Alongside technical compression, on-chain indicators continue shaping expectations.
SeniorDeFi noted that NEAR stands out among Layer 1 networks for consistent activity growth. Developer engagement and daily transactions continue trending upward despite market volatility.
NEAR Shows Quiet Strength as On-Chain Activity Climbs$NEAR has been one of the few L1s showing consistent on-chain growth despite market volatility.
Developer activity, daily transactions, and active wallets continue trending upward, signaling expanding real usage rather than… pic.twitter.com/5pqIlKNEmR
— Senior 🛡🦇🔊 (@SeniorDeFi) December 13, 2025
Active wallet expansion suggests increasing real usage rather than speculative bursts. This pattern supports the view that network participation is broadening steadily.
Observers emphasize that such trends often precede, rather than follow, price recovery.
Large holders have also accumulated NEAR during pullbacks, according to SeniorDeFi’s analysis.
Similar accumulation behavior has historically aligned with early stages of longer momentum cycles. Still, accumulation alone has not yet altered near-term price structure.
Attention has also turned to NEAR Intents, which several commentators credit for accelerating network activity.
CryptoMichNL referenced exponential growth over recent months. While price remains subdued, these developments are fueling discussion about a delayed breakout into 2026 rather than an immediate move.
