Market Overview for NEAR Protocol/Tether

Summary
• Price surged above 1.790 on strong volume but retreated, testing 1.770 as support.
• MACD and RSI indicate waning momentum, with RSI near overbought territory.
• Volatility widened during the breakout, while Bollinger Bands show recent contraction.
• A bullish engulfing pattern emerged near 1.760–1.770, hinting at possible support.

At 12:00 ET on 2026-01-06, NEAR Protocol/Tether (NEARUSDT) opened at 1.747, reached a high of 1.841, and closed at 1.772, with a low of 1.755. Total volume was 13,145,965 and turnover was 2,322,452.98.

Structure and Key Levels

Price pushed above 1.790 but faced selling pressure, with 1.820 acting as a short-term resistance. Support appears to hold around 1.760–1.770, reinforced by a bullish engulfing pattern. The 1.720 level is a deeper support area from earlier in the session.

Momentum and Indicators

MACD turned negative after a short bullish phase, signaling potential pullback. RSI edged into overbought territory above 70 but may not sustain higher levels. A possible bearish divergence in RSI suggests caution ahead.

Volatility and Bollinger Bands

Volatility increased sharply during the 1.790–1.840 rally, with price moving outside the upper Bollinger Band. A recent contraction in the bands suggests a potential break in either direction, though the move appears to have resolved higher.

Volume and Turnover Divergence

Volume surged during the rally above 1.790, but price failed to hold those levels, suggesting mixed conviction. Turnover spiked during the 16:45–17:00 ET range, coinciding with the 1.760–1.770 consolidation.

Fibonacci Retracements

The 61.8% Fibonacci retracement level at 1.796 offered temporary resistance. On the daily chart, 1.760 is a key 38.2% retracement level from the recent high.

NEARUSDT may test 1.760–1.770 again as a short-term floor, with potential for a rebound if bulls regain control. Traders should remain cautious of possible profit-taking and fading momentum over the next 24 hours.