$NEAR at $2 feels cheap.

But that’s not the interesting part.

The interesting part is where the market repeatedly found value.

In 2025, buyers stepped in around $3.3.

In 2024, the first major expansion topped near $9.

And the cycle high sits around $20.
$NEAR around $2 is catching attention for a reason.

Not because it guarantees anything, but because of where it sits relative to the levels that previously attracted strong demand.

History shows a few areas that mattered:

• Around $3.3, buyers consistently defended the market.
• Near $9, price faced its first major expansion zone.
• Around $20, the previous cycle reached its peak momentum.

These levels weren't created by speculation alone—they were established through real market participation.

Today, $NEAR is trading much closer to long-term demand areas than to the major resistance zones overhead.

That creates an interesting risk-to-reward profile.

A move toward the $9 region would represent a substantial recovery from current prices.

A return to the $20 area would signal a much larger shift in market sentiment.

Many traders focus on how far $NEAR remains from its all-time highs.

I focus on where capital previously entered the market with conviction.

The market doesn't need an immediate breakout to new highs.

It simply needs continued capital rotation into strong Layer-1 ecosystems.

If that trend continues, $NEAR still has considerable upside before revisiting the levels that defined the previous cycle.