Market Overview for NEAR Protocol/Tether

Summary
• Price surged to $1.712, forming bullish momentum with a 6.8% close above the prior day’s close.
• Volatility expanded as Bollinger Bands widened, suggesting increased trader participation.
• MACD turned positive with a bullish crossover, while RSI hovered near 60, indicating moderate strength.
• A key support at $1.666 was tested and bounced, reinforcing its relevance for near-term stability.
• Volume and turnover spiked during the 04:00–05:00 ET window, coinciding with a sharp rally.

Market Overview

NEAR Protocol/Tether (NEARUSDT) opened at $1.651 on 2026-01-02 12:00 ET, surged to $1.712, and closed at $1.675 as of 2026-01-03 12:00 ET. Total volume for the 24-hour window was 6.9 million NEAR, with notional turnover reaching $11.6 million.

Structure and Momentum

Price formed a bullish breakout above key resistance at $1.690, followed by a consolidation phase around $1.685–1.695. A bullish engulfing pattern emerged during the 04:00–04:15 ET window, suggesting a potential reversal after a prior bearish trend. The 20-period moving average (5-min chart) is now above the 50-period line, supporting an uptrend.

MACD crossed into positive territory with a rising signal line, indicating strengthening bullish momentum. RSI climbed to 61.8, staying well clear of overbought territory, suggesting room for further upward movement.

Volatility and Volume

Bollinger Bands expanded, reflecting rising volatility, with price bouncing off the upper band during the peak rally. The 20-period upper band touched $1.713, just above the high of $1.712.

Volume spiked during the 04:00–05:30 ET window, confirming the bullish breakout. Turnover surged in line with volume, showing no signs of price-volume divergence.

Fibonacci retracement levels of the recent $1.642–$1.712 swing show critical levels at 61.8% (~$1.670) and 38.2% (~$1.690), with the current close aligning near 61.8% support.

Looking ahead, NEARUSDT may test resistance at $1.702–1.705 before facing key psychological resistance at $1.710. A pullback toward $1.675–1.666 could offer a favorable risk/reward, but traders should remain cautious of potential corrections if volume fails to confirm further strength.