Market Overview for NEAR Protocol/Tether

Summary
• Price surged past 1.500, forming a bullish engulfing pattern near 1.510.
• RSI approached overbought territory, suggesting potential short-term pullback.
• Volume increased in the final 6 hours, aligning with the price breakout.
• Bollinger Bands widened significantly, indicating rising volatility.
• Fibonacci levels at 1.547 and 1.525 appear to be key resistance and support, respectively.

NEAR Protocol/Tether (NEARUSDT) opened at 1.494 on 2025-12-31 12:00 ET, surged to a high of 1.585, and closed at 1.583 on 2026-01-01 12:00 ET. The 24-hour volume reached 4,680,896.8, with notional turnover of 7,161,411.87.

Structure & Formations

The 5-minute chart displayed a bullish engulfing pattern around 1.510, confirming a reversal from bearish to bullish momentum. A key resistance cluster formed between 1.545 and 1.550, with a bearish rejection observed at 1.555. A doji appeared near 1.542, suggesting indecision.

Moving Averages

The 20-period and 50-period moving averages on the 5-minute chart were in a bullish crossover trend, reinforcing the recent uptrend. Daily 50/100/200-period averages showed price above the 100 and 200, indicating longer-term strength.

Momentum Indicators

MACD showed a bullish divergence in the final hours, aligning with the price breakout. RSI approached the 70 level, suggesting potential overbought conditions. However, the recent surge appears to be well-supported by volume, reducing immediate reversal risks.

Volatility & Bollinger Bands

Bollinger Bands expanded significantly during the 12–16:00 ET window, reflecting heightened volatility. Price remained above the 20-period moving average within the upper band for much of the session, suggesting a continuation of the bullish trend.

Volume & Turnover Analysis

Volume spiked after 15:00 ET, with the final 6 hours showing 90% of total volume. Turnover increased in tandem, confirming the price movement. No significant price-volume divergence was observed, suggesting strong conviction in the upward move.

Fibonacci Retracements

Fibonacci retracement levels showed resistance at 1.547 (61.8%) and 1.525 (38.2%) based on the recent 5-minute swing. Daily Fibonacci levels aligned closely, suggesting these levels could influence near-term price behavior.

Looking ahead, NEARUSDT may test the 1.585–1.590 range if buying pressure continues. However, traders should monitor the 1.545–1.550 zone for potential pullback risks in the next 24 hours.