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NEAR Rallies 8% Against the Trend to Reclaim $5, Largely Erasing Earlier Losses

TradingKey

AuthorBlock Tao

Oct 10, 2026 9:14 AM

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On October 10, NEAR Protocol surged 8% to reclaim the $5 psychological level, currently quoted at $5.226, erasing recent broader market losses. This independent rally amid weakness in Bitcoin and Ethereum is driven by speculation surrounding post-quantum cryptography and anti-AI decryption concepts, following co-founder Illia Polosukhin’s statements on quantum-resistant account upgrades. NEAR exhibits strong Alpha attributes and forms a short-term bear trap pattern. If Bitcoin stabilizes between $80,000 and $82,000, NEAR is positioned as a potential market rally leader once broader downward pressure subsides.

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TradingKey - NEAR Soars 8% in Solo Rally, Powerfully Breaching $5 Mark and Erasing Recent Pullback Losses.

On October 10, amid overall pressure and lower trading in major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) alongside high-level market leverage liquidations, NEAR Protocol (NEAR) demonstrated strong counter-trend safe-haven and Alpha attributes, surging 8% in a single day to reclaim the key $5 psychological level. Temporarily quoted at $5.226, it largely erased the losses from following the broader market down this Thursday.

near-price-c0ad10d116054d99b4632f498eaf13af NEAR price chart, Source: TradingView

NEAR's ability to pull off an independent rally amid broader market weakness is primarily driven by speculation around post-quantum cryptography and anti-AI decryption concepts. According to a September 9 report by Cointelegraph, NEAR co-founder Illia Polosukhin claimed that "NEAR accounts can gain quantum resistance through a single key upgrade, without requiring users to migrate assets throughout the process," meaning it achieves quantum resistance earlier than networks like Starknet and Ethereum.

Currently, NEAR benefits from the dual support of "quantum resistance + AI agent fundamentals," with its price action generating a significant Alpha premium over Bitcoin and Ethereum. Furthermore, after successfully reclaiming the $5.00 level, a classic fake breakdown/bear trap shakeout pattern is taking shape in the short term. Looking ahead, if Bitcoin stabilizes in the $80,000–$82,000 range, NEAR stands a very high chance of becoming one of the rally leaders once the broader market stops falling.

This content was translated using AI and reviewed for clarity. It is for informational purposes only.

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Disclaimer: The content of this article solely represents the author's personal opinions and does not reflect the official stance of Tradingkey. It should not be considered as investment advice. The article is intended for reference purposes only, and readers should not base any investment decisions solely on its content. Tradingkey bears no responsibility for any trading outcomes resulting from reliance on this article. Furthermore, Tradingkey cannot guarantee the accuracy of the article's content. Before making any investment decisions, it is advisable to consult an independent financial advisor to fully understand the associated risks.

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