NEAR at a Crossroads: What the Chart Reveals About Its Next Big Move
- Is NEAR Protocol Building a Base for a Reversal?
- 4-Hour Chart: Bullish V-Reversal or Fakeout?
- FAQ: NEAR Protocol’s Technical Outlook
NEAR Protocol’s price action is at a pivotal juncture, with a potential trend reversal brewing after a sharp drop to $1.80. The cryptocurrency has shown signs of accumulation, but the broader downtrend remains intact unless key resistance levels are breached. This analysis dives into the technical setup, including the critical 50-day EMA and 200-day EMA, alongside bullish patterns like the V-formation and W-structure. We also explore liquidity pools, trader positioning, and historical context to gauge NEAR’s next move—without speculative predictions. ---
Is NEAR Protocol Building a Base for a Reversal?
After plunging to $1.80, NEAR has stabilized in this zone, hinting at accumulation—a classic precursor to trend shifts. Historical data from TradingView shows similar patterns in Q2 2023, where consolidation near support preceded rallies. However, the 50-day EMA (currently at $2.10) acts as a stubborn resistance, rejecting price advances twice in June. Until this level breaks, the downtrend dominates. Key factors to watch:
- Support Defense: Holding $1.80 could validate a W-formation, a bullish reversal pattern.
- EMA Breakout: A close above the 50-day EMA with volume would signal momentum shift.
- Liquidation Clusters: CoinGlass data reveals dense long positions below $1.90, risking a "stop-loss hunt."
- MACD/RSI Neutrality: Both indicators flatline, reflecting market indecision.
- Historical Precedent: NEAR’s 2022 rebound from $1.50 followed a similar accumulation phase.
This article does not constitute investment advice.
---4-Hour Chart: Bullish V-Reversal or Fakeout?
The 4-hour chart paints a nuanced picture. A V-shaped recovery from $1.80 suggests strong buying interest, but the subsequent sideways grind lacks conviction. Critical observations:
- Resistance Test: The $2.25–$2.30 zone (previous sell area) aligns with the 200-day EMA—a double barrier.
- Liquidity Pools: Shorts cluster above $2.30; a breakout could trigger a short squeeze.
- Volume Decline: Post-V-rally volume tapered, raising sustainability doubts.
- BTCC Exchange Activity: NEAR futures open interest rose 18% last week (Source: BTCC).
- Comparative Strength: NEAR outperformed SOL and AVAX in June’s downturn, per CoinGecko.
FAQ: NEAR Protocol’s Technical Outlook
What confirms a NEAR trend reversal?
A daily close above the 50-day EMA ($2.10) and a breakout past $2.30 WOULD confirm bullish momentum, per BTCC analysts.
Why is $1.80 significant for NEAR?
It’s a psychological and technical support level, holding three tests since May—a sign of buyer commitment.
How does the MACD impact NEAR’s price?
Currently neutral, but a crossover above the signal line could attract algorithmic traders.
