Market Overview for NEAR Protocol/Tether (NEARUSDT)

Summary
• NEARUSDT fell to a 24-hour low of 1.639 amid a sharp selloff, followed by a partial rebound.
• Key support tested at 1.676–1.682, with resistance forming at 1.694–1.698.
• Turnover spiked during the selloff, indicating heightened bearish sentiment and order flow imbalance.
• A long lower shadow at 14:30 ET suggests rejection near 1.66, but momentum remains bearish.
• RSI and MACD point to oversold conditions, hinting at potential short-term bounce.

NEAR Protocol/Tether (NEARUSDT) opened at 1.717 on 2025-12-06 12:00 ET and traded between 1.639 and 1.731 before closing at 1.688 on 2025-12-07 12:00 ET. The 24-hour volume was 6,485,180.7 with a notional turnover of $11,188,579.

Structure and Key Levels

The price formed a bearish trend channel, with 1.682–1.686 acting as immediate support and 1.694–1.698 as resistance. A large bearish engulfing candle on 14:30 ET signaled strong downward pressure. A potential short-term rebound is likely around 1.66–1.676, where multiple Fibonacci retracement levels align.

Volatility and Momentum

Bollinger Bands widened during the selloff, indicating rising volatility. The RSI dipped below 30, entering oversold territory, while MACD crossed below the signal line, reinforcing bearish momentum. However, the divergence between falling prices and stabilizing volume suggests a potential countertrend bounce.

Volume and Turnover

The most significant volume spike occurred between 14:30 and 16:00 ET, coinciding with the price breakdown below 1.68. Turnover surged during this period, indicating aggressive selling. The volume pattern suggests that liquidity is thinning below 1.66, raising the risk of a further pullback if the trend resumes.

NEARUSDT may test 1.66–1.649 in the next 24 hours, with a potential bounce into the 1.68–1.69 range if buying resumes. Investors should monitor the 1.682–1.686 level for a potential reversal setup, though the near-term bias remains cautiously bearish.