Market Overview for NEAR Protocol/Tether (NEARUSDT) – 24-Hour Candlestick Analysis

• NEARUSDT declined from $2.18 to $2.08 before a late session rebound to $2.16, forming a bullish reversal pattern.
• Volatility spiked mid-session with a low of $2.08 followed by consolidation and gradual recovery.
• Strong volume surges coincided with key support tests and breakout attempts, suggesting active participation.
• RSI and MACD showed divergences mid-session but later aligned with price recovery.
• Price held above 2.10 on increased volume, hinting at potential continuation of a short-term bullish bias.

Opening Summary

The NEAR Protocol/Tether (NEARUSDT) pair opened at $2.14 on 2025-10-31 at 12:00 ET and closed at $2.16 by 2025-11-01 at 12:00 ET, reaching a high of $2.18 and a low of $2.08 over the 24-hour period. Total traded volume amounted to 2,558,057.3 NEAR, while notional turnover (volume × price) reached $5.47 million. Price action was characterized by a sharp mid-session pullback and a late session rally on increasing volume.

Structure & Formations

Price action showed a distinct pullback from $2.18 to $2.08, testing the $2.10 and $2.08 levels as key support levels. A bullish reversal pattern formed near $2.08 as volume surged and price bounced back. The final candle of the day closed near the upper half of the session range, suggesting buyer control. A doji-like structure was observed around $2.10–$2.11, indicating indecision, while a 15-minute bullish engulfing pattern emerged at the close, signaling potential momentum to the upside.

Volatility & Bollinger Bands

Volatility expanded during the mid-session pullback with a low of $2.08 and a high of $2.18. Price remained within Bollinger Bands for most of the session, dipping close to the lower band at $2.08 before recovering. The bands were relatively wide during the decline but began to contract during the final two hours, suggesting a potential consolidation period ahead.

Moving Averages and Fibonacci Levels

On the 15-minute chart, NEARUSDT tested the 20-period moving average (20SMA) multiple times before closing above it at $2.16. The 50-period moving average (50SMA) acted as dynamic support during the pullback, with price finding a floor near $2.08. On the daily timeframe, price closed above the 50DMA and 100DMA, reinforcing short-term bullish momentum. Fibonacci retracement levels played a role in the pullback and recovery; the 61.8% level at $2.10 served as a key support, while the 78.6% level at $2.14 was respected during the rally.

MACD and RSI Divergence

The MACD crossed to the negative territory during the mid-session selloff but returned to positive ground with the price rebound. A bullish crossover above the signal line occurred in the final hours, aligning with the rally. RSI, however, showed a divergence early in the session when price continued down while RSI bottomed out. This divergence was resolved as volume increased and price recovered, confirming the potential for a continuation of the upward move.

Backtest Hypothesis

Given the observed MACD crossover and RSI alignment during the late session rebound, a backtest using the MACD Death Cross signal could provide insights into the effectiveness of this indicator for NEARUSDT. However, as noted earlier, the data pull for NEARUSDT returned an error. To proceed with the backtest, the following options are available:

1. Confirm the correct ticker format — common variants include NEARUSDT.BINANCE, NEAR-USDT, or NEAR-USD depending on the exchange. If you confirm the correct format, I will reattempt the data pull.
2. Use the NEAR-USD pair instead, as its price path closely mirrors that of NEARUSDT.
3. Choose an alternative trading pair such as NEARUSDC or a different exchange symbol (e.g., NEARUSDT.KUCOIN).

Once the correct ticker is confirmed, I will pull the MACD indicator data, detect all Death Cross events from 2022-01-01 to 2025-11-01, and run an event-based backtest to assess performance. This will provide an evidence-based evaluation of the MACD strategy for NEARUSDT.