Market Overview for NEARUSDT: Breakout with Strong Momentum

Summary
• NEAR/USDT traded in a $1.72–$1.76 channel, forming a bullish pattern near $1.74.
• Volume spiked 4x above average during the breakout, confirming momentum.
• RSI and MACD suggest rising bullish momentum with no immediate overbought signal.
• Price remains within upper Bollinger Band, indicating high volatility.
• Fibonacci levels hint at potential resistance at $1.77 and support at $1.73.

NEAR Protocol/Tether (NEARUSDT) opened at $1.737 on 2026-01-04 12:00 ET, reached a high of $1.799, a low of $1.711, and closed at $1.747 as of 2026-01-05 12:00 ET. Total volume was 16,459,800, and turnover amounted to $28,574,051.

Structure & Formations

Price formed a bullish ascending triangle pattern within the $1.72–$1.76 range. A breakout above $1.76 at 04:00 ET was confirmed by a long bullish candle with a high of $1.799. Key support levels include $1.73 (50% Fib) and $1.712 (38.2% Fib), while resistance sits at $1.774 (61.8% Fib). A long-legged doji formed near $1.732, signaling indecision.

Moving Averages and Momentum

On the 5-minute chart, the price closed above the 20SMA at $1.743 and the 50SMA at $1.739, suggesting short-term bullish bias. MACD crossed above the signal line, indicating growing momentum. RSI climbed from 55 to 65, signaling rising buyer pressure but not yet overbought.

Volatility and Bollinger Bands

The price traded above the upper Bollinger Band for much of the 24 hours, indicating strong volatility. The band width expanded after the breakout, suggesting increased market activity and potential for further upside.

Volume and Turnover

Volume surged to 1,035,428.1 at 04:00 ET, a 4x increase from average levels. Turnover reached $1.85 million on that candle, confirming the breakout. Price and volume aligned, indicating genuine buying pressure.

Looking ahead, NEAR/USDT appears to have momentum above $1.74, with a potential target near $1.774. Traders should monitor a pullback to the 20SMA or $1.73 for re-entry. A break below $1.712 could reverse the trend and trigger further selling.