Market Overview for NEAR Protocol/Yen

Summary
• NEARJPY formed bearish engulfing and harami patterns in key 5-min bearish reversals.
• Price closed below the 50-period moving average, with RSI signaling potential oversold conditions.
• Volatility expanded as the pair moved below the lower Bollinger Band for the second time in 24 hours.
• Volume surged during the late-ET sell-off, confirming downward momentum despite low turnover.
• Fibonacci 61.8% level at 256.7 appears to offer critical near-term support ahead of 255.3.

NEAR Protocol/Yen (NEARJPY) opened at 258.6 on 2025-12-13 12:00 ET, reaching a high of 260.5 and a low of 251.1, before closing at 251.1 at 12:00 ET on 2025-12-14. Total volume was 18,692.2, with a notional turnover of 4,725,163.2 JPY over 24 hours.

Structure & Formations

A bearish engulfing pattern formed at the start of the late-ET sell-off around 01:15–01:30 ET, confirming a reversal after a brief rally. A harami appeared at 08:30–08:45 ET, indicating internal indecision before a further pullback. The price later broke below a key Fibonacci 61.8% level at 256.7, setting up a test of 255.3.

Technical Indicators

The 20- and 50-period moving averages on the 5-min chart crossed bearishly late in the session, reinforcing the downward drift. RSI reached 29–31 in the final hours, hinting at oversold conditions but lacking immediate bullish confirmation. MACD showed bearish divergence, with the line remaining below the signal line throughout the session.

Volatility and Momentum

Volatility expanded after 05:00 ET as NEARJPY moved below the lower Bollinger Band for the second time in 24 hours, suggesting a continuation of the bearish trend. A late-session volume spike during the selloff from 258.7 to 255.6 confirms conviction in the move lower, though turnover remained relatively low.

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Forward Outlook and Risk

Price appears to be consolidating near 251.1, with a path of least resistance likely to the downside should support at 254.4 hold. A break below 253.4 could trigger deeper bearish Fibonacci levels. Investors should monitor volume and RSI for signs of oversold rebound or further weakness. **