Market Overview: NEARUSDT Shows Strong Bullish Momentum

Summary
• NEARUSDT broke above key resistance near 1.835 and closed near 1.867, forming a bullish continuation pattern.
• Volume surged dramatically during the 15:45–16:00 ET window, confirming the upward breakout.
• RSI signaled overbought conditions near 80, suggesting potential short-term pullback risk.
• Price remained above the 20 and 50-period 5-minute moving averages, reinforcing the bullish trend.
• Volatility expanded on the 16:45–17:00 ET candle, with price closing near the upper Bollinger Band.

At 12:00 ET–1 on 2025-12-08, NEAR Protocol/Tether (NEARUSDT) opened at 1.77, reached a high of 1.842, touched a low of 1.736, and closed at 1.867 at 12:00 ET on 2025-12-09. Total volume for the 24-hour period was 8.38 million NEAR, and notional turnover was $14.59 million.

Structure & Formations

The price action displayed a strong bullish continuation pattern following a key breakout above 1.835. This level acted as prior resistance, and the candle that closed above it confirmed a breakout with a high of 1.842 and a close near 1.835. A strong bullish engulfing pattern formed on the 15:45–16:00 ET candle, suggesting further upward momentum. Additionally, price found strong support around 1.75–1.76, which was tested twice and successfully held.

Moving Averages

On the 5-minute chart, the 20- and 50-period moving averages were both well below the current price, reinforcing the bullish bias. On the daily timeframe, the 50-, 100-, and 200-period moving averages were aligned lower than current levels, indicating a strong trend in favor of NEARUSDT.

MACD & RSI

The MACD remained positive with a strong signal line crossover indicating bullish momentum.

RSI reached overbought territory near 80 during the 16:00–16:15 ET period, suggesting possible near-term profit-taking. However, RSI has not yet shown bearish divergence, implying that the upward trend may still continue.

Bollinger Bands

Volatility expanded significantly during the 16:45–17:00 ET window, with the candle closing near the upper band at 1.869. This suggests strong buyer participation and elevated momentum. The narrowing of the bands earlier in the session indicated a period of consolidation, now broken decisively to the upside.

Volume & Turnover

Volume spiked dramatically on the 15:45–16:00 ET candle, with nearly 1.15 million NEAR traded and $2.10 million in turnover. This volume confirmed the breakout above 1.835. Later in the session, turnover increased further during the 16:00–16:15 ET period with a $1.88 million trade volume, reinforcing the strength of the upward move.

Fibonacci Retracements

On the recent 5-minute swing from 1.736 to 1.842, the 61.8% retracement level came in at around 1.795, which was effectively tested and held as support. On the daily chart, the 38.2% retracement of the prior major move from 1.698 to 1.767 came in at 1.732, which was also tested and held as support, reinforcing the structure of the current bullish trend.

NEARUSDT may continue to trend higher as momentum remains strong and key support levels hold. However, traders should remain cautious as overbought RSI readings and high volatility increase the risk of short-term pullbacks. Close monitoring of volume and RSI divergence will be critical in the next 24 hours.