NEAR's current price is $1.677, and to be honest, this is not just a 50% cut — it has dropped over 80%.

What’s the most heartbreaking? The price is now precisely stuck in the most despairing bear market zone at the end of 2023 — between $1.00 and $1.60. All the gains from the past two years have now returned to zero. It feels like a factory reset, returning to the "initial undervaluation" state.

From a technical perspective, NEAR is now in the absolute "golden pit." A leading public chain supported by sharding technology and also associated with AI narratives, falling back to the bottom of the last cycle — this is usually a golden opportunity for bottom-fishing on the left side. The short-term downtrend is still ongoing, but the bottom has been sealed by historical support levels.

How to interpret the levels? Short-term resistance is around $2.500 to $3.000 — this is the last line of defense during the decline, and reclaiming it is necessary to declare a reversal. Above that is the dense accumulation zone between $4.000 and $5.000, which is difficult to break through in the medium term. As for support levels, the golden buy zone is between $1.500 and $1.600, where the current candlesticks are active. Below that, there's a strong support at $1.000 to $1.250 — unless a systemic crash occurs, it’s hard to effectively break through.

Volume is interesting — extremely low volume grinding sideways. Compared to the active trading volume at the $8.00 high, trading has become very sluggish. But this also indicates that while buying pressure isn’t strong, the sell pressure has disappeared. A typical "won’t fall further" signal, and most long-term holders are now just holding without selling.

What’s the strategy? If you still have positions, then go into hibernation mode. Since the price has returned to the historical bottom, selling now is like "dying before dawn." Hold tight and bet that the next cycle can recover with technical advantages along with the market.

For those without positions, this is the ideal time for dollar-cost averaging. The risk-reward ratio is extremely attractive, and you can boldly build positions in the $1.50 to $1.70 range in batches. In the short term, look for a rebound to $2.50 (a 50% increase), with a long-term target above $5.00.

NEAR has already completed its "value reversion," and now is an excellent window to pick up bloodied chips.