NEAR price has taken a sharp hit on October 1, falling 13% in a single day after a powerful run that began in February. The token broke out in September and reached $5.50, but today’s selloff has changed the tone quickly.
The rally had serious momentum. Still, overheated RSI made a cooldown unsurprising, especially after such a strong move. A few sell candles aren’t unusual. The concern starts if October brings more large downside candles and the selling keeps accelerating.
NEAR Price Needs $4.34 Support to Hold Firm
That puts $4.34 support under the spotlight. If buyers defend it, the recent correction could remain just that: a correction. But repeated heavy selling would make the level increasingly important as traders watch whether the broader rally can hold its ground.
For now, the chart isn’t the only problem. Sentiment is also taking a hit from a reported security incident involving NEAR Intents.
ZachXBT Claim Adds Fresh Pressure Today
ZachXBT said NEAR Intents were exploited for more than $3.8 million through its BSC hot wallet. According to the statement provided, the funds were sent to KuCoin and bridged to Bitcoin, while an ongoing incident is affecting multiple EVM chains.
That claim lands at an awkward moment for NEAR. The token was already cooling after its September breakout, and a security-related development adds another source of pressure. It doesn’t erase the strength of the earlier rally, but it does give sellers more to work with.
The next move matters. NEAR price is now facing a test around $4.34, while traders weigh the correction against the fresh exploit claim.
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