Michaël van de Poppe believes NEAR is trading far below its true value, calling it one of the most undervalued assets in today’s market environment.
His view is rooted in both ecosystem expansion and technical positioning, which together suggest the token is currently mispriced relative to its underlying growth. The sentiment he describes mirrors the end of 2019, when skepticism surrounded tokens that later became top performers.
The chart shared by the analyst highlights the lowest valuation zones seen since early October and late November. NEAR is moving inside a clearly defined downtrend channel, but price continues to hold above the $1.60 zone, an area that has repeatedly acted as a stabilizing floor. Van de Poppe argues that this sell-off reflects mispricing rather than weakening fundamentals, noting that token demand is rising while sentiment has not yet adjusted.
$NEAR is an undervalued asset in the current markets.
The current market sentiment equals the same period as the end of 2019.
'Tokens don't have any impact, there's no purpose for them.'
I disagree, and I think that the growth of the $NEAR ecosystem shows this.
NEAR Intents… pic.twitter.com/RO0R1wdLYS
— Michaël van de Poppe (@CryptoMichNL) December 13, 2025
Ecosystem Growth Is Outpacing Market Pricing
A central point in van de Poppe’s argument is the rapid acceleration of NEAR Intents — a key mechanism that has driven exponential network activity over recent months. He rejects the idea that tokens lack purpose, pointing to real ecosystem utility and rising developer momentum. According to him, this level of usage growth is not reflected in the current market price, creating a disconnect that historically resolves with sharp upside repricing.
He expects that NEAR will not stay at these levels for long, given the combination of ecosystem traction and misplaced market expectations. In his view, the token is sitting in a zone where long-term demand continues increasing while short-term sentiment remains overly cautious.
Technical Setup Shows Key Levels for Reversal
From a technical perspective, van de Poppe emphasizes the importance of reclaiming key resistance levels. A move back above $1.80, followed by a clean reclaim of $2, would be the first solid indication that bullish momentum is returning. His chart shows a large consolidation range under major resistance, where multiple failed bounces have kept price capped.
He notes that reclaiming this area typically leads to acceleration, especially when the broader trend structure shows oversold conditions. The chart also outlines the previous liquidity spikes that marked potential turning points, with volume rising on attempts to break out of the downtrend.
The TradingView chart of NEAR/USDT reinforces this narrative. Recent price action shows a series of sharp wicks into resistance and higher volatility around the $1.60–$1.70 zone, but no breakdown beneath support. Despite lower highs on the 4-hour chart, the underlying structure shows buyers consistently stepping in to defend the range. This consolidation is consistent with the analyst’s expectation that the token is preparing for a shift once momentum returns.
Looking Ahead: Could NEAR Hit $3 in Early 2026?
Van de Poppe concludes that NEAR’s current structure is not indicative of a prolonged bearish trend. Instead, he calls this a period of mispricing supported by strong fundamentals and growing network adoption. If the token successfully reclaims the highlighted resistance levels, he sees a clear path toward $3 in the first quarter of 2026, especially if sentiment rotates back into undervalued Layer-1s.
For now, NEAR remains in what he describes as a “neutral-to-oversold window,” where the downside appears limited and a recovery becomes increasingly likely as market positioning shifts. With ecosystem usage rising and sentiment lagging, the stage may already be set for a larger move, one that begins only after the $1.80–$2 region is firmly regained.
