The cryptocurrency market faced renewed pressure after former President Trump's recent address, with Ethereum (ETH) and NEAR emerging as key assets to watch. Sentiment remains fragile as price action lags behind some on-chain signals.
NEAR Holds Near $1.23 Support; Analyst Exits Position but Sees Structural Support
NEAR, which survived the FTX collapse aftermath, has been retreating alongside the broader altcoin market. Well-known commentator Altcoin Sherpa revealed he sold his NEAR holdings over concerns that the decline could stretch to $1.07. However, he acknowledged that despite closing positions, the $1.23 level may still serve as a critical support. "I had to exit my NEAR position, but I still think this level is solid as support. The 0.618 Fibonacci zone is converging here along with several EMAs. I'm not buying right now, just watching for the moment," Altcoin Sherpa said. If NEAR can hold above $1.23, the next resistance to watch is $1.297. Performance at these levels will likely determine if a short-term recovery or further decline follows.
Ethereum Stalls Below $2,100; ETF Outflows Continue
Market observers widely agree a strong move from Ethereum is essential for any sustained altcoin rally. Yet the $2,100 mark has eluded ETH, which currently trades near $2,050 as investor enthusiasm fades, partly due to Trump's remarks. Analyst DaanCrypto cautioned that unless ETH reclaims key zones, recent upside attempts could be interpreted as bearish evidence. He maintains that opening new positions only makes sense if ETH breaks decisively from its current trading channel. A drop below $1,900 would expose the stronger support at $1,500, raising risks of accelerated selling and sharp volatility if that floor gives way.
Mister Crypto, citing a heat map, noted that buyer activity has reached its highest point since 2022. However, these inflows are not clearly reflected in spot prices or ETF flows. He speculated that large ETH purchases by the recent Drift protocol hackers may have distorted on-chain data, making genuine buying interest hard to read. On the institutional side, Ethereum-focused ETFs saw an outflow of $71.2 million yesterday, dragging ETF assets to levels not seen since August 2025. Persistent, steady withdrawals signal ongoing caution among larger investors.