Market Overview for NEAR Protocol/Tether (NEARUSDT) – 2025-09-18

• NEARUSDT surged 16.7% in 24 hours, closing near a fresh 15-min high near $2.995.
• Key support held near $2.65–2.68, while resistance clusters at $2.76–2.80, $2.88–2.90, and $2.96–2.98 showed mixed strength.
• Volume spiked over 500k during the rally, but turnover remained in line with price action, no clear divergence observed.
• RSI maxed at 73 during the rally, suggesting overbought conditions; MACD crossed bullish with positive divergence.
• Bollinger Bands expanded significantly as volatility surged; price remains in upper band territory.

NEAR Protocol/Tether (NEARUSDT) opened at $2.668 at 12:00 ET on 2025-09-17 and closed at $2.995 by 12:00 ET on 2025-09-18. The 24-hour high reached $3.004, with a low of $2.651. Total volume traded was approximately 18.3 million NEAR, with a notional turnover of around $56.6 million. The pair has seen a strong upward move over the last 24 hours, showing clear momentum and a bullish breakout in key resistance levels.

The price structure over the 24-hour period revealed multiple key resistance clusters that were either broken or tested aggressively. A key level at $2.88–2.90 held briefly as a consolidation zone before breaking out further north. The $2.96–2.98 and $3.00 levels were the most recent resistance areas, with the latter being tested and confirmed as a new high. On the support side, $2.65–2.68 provided a crucial floor during the initial bearish pullback, with price rebounding from this area multiple times. A strong bullish engulfing pattern was formed at the $2.68–2.72 level, signaling a shift in momentum from bearish to bullish.

The 20-period and 50-period moving averages on the 15-minute chart are now bullish, with the 20-period crossing above the 50-period (golden cross). On the daily chart, the 50-period and 100-period moving averages have also aligned in a bullish manner, while the 200-period is slowly closing the gap. This indicates that the longer-term trend is likely to remain bullish, with the momentum likely to continue unless a significant bearish correction takes place.

MACD on the 15-minute chart crossed into positive territory with a strong divergence, indicating growing bullish momentum. RSI reached overbought territory at 73 during the rally, which is a cautionary sign for overextension. However, the RSI remains within a tight range, suggesting that the market is still in a controlled rally. Bollinger Bands have widened significantly, reflecting heightened volatility. Price is currently sitting near the upper band, which is a typical sign of a strong move in a bullish direction.

Backtest Hypothesis

Given the observed patterns and indicator readings, a potential backtesting strategy could involve entering long positions on a bullish engulfing pattern near key support levels (e.g., $2.65–2.68) with a stop-loss placed below the previous swing low. A take-profit target can be set at the next key resistance level ($2.88–2.90 or $2.96–2.98), with a trailing stop used once the price breaks above the most recent swing high. This approach would have been activated on multiple occasions in the last 24 hours, especially during the breakout from $2.68–2.72 and the subsequent consolidation at $2.88–2.90. The use of MACD as a momentum filter could also help in confirming the strength of the breakout before entering.