Market Overview: NEAR Protocol/Tether (NEARUSDT) – 24-Hour Analysis as of 2025-10-11

• Price dipped to 2.391 after a sharp selloff from 3.119, with volume surging during the decline
• Momentum shifted from bullish to bearish, with RSI and MACD confirming bearish momentum
• Volatility expanded significantly during the selloff, with Bollinger Bands widening
• A potential support zone formed around 2.35–2.40, with a retracement target near 2.68–2.74
• Divergence between volume and price suggests caution for near-term consolidation or reversal

Price Action and Market Structure

NEARUSDT opened at $3.061 on 2025-10-10 at 16:00 ET and fell to a 24-hour low of $2.391 on 2025-10-11 at 10:00 ET, closing at $2.48 at 12:00 ET. Total volume reached 43.7 million NEAR, with $110.6 million in notional turnover. The price action displayed a strong bearish trend, with a sharp decline from $3.119 followed by a partial rebound into the 2.45–2.50 range. Key resistance appears to be forming near 2.52–2.55, with the 2.50–2.52 zone acting as a potential retest level.

Support and Resistance

Notable support levels are emerging around $2.35–$2.40, with the price testing this area multiple times and showing a potential reversal pattern. A 20-period and 50-period moving average on the 15-minute chart indicate a bearish crossover, reinforcing the downward pressure. The daily 50/100/200 SMA alignment also remains bearish, with the 2.52–2.55 level offering key resistance for a potential bounce or continuation lower.

Technical Indicators

The RSI has shown bearish divergence, dipping into oversold territory around 2.40 before the price recovered slightly. The MACD confirmed bearish momentum with a negative histogram and a crossover below the signal line. Bollinger Bands expanded during the selloff, indicating high volatility and a potential consolidation phase ahead. Price is currently trading within the upper and middle bands, suggesting a possible retracement into the 2.52–2.55 zone.

Volume and Turnover

Volume spiked significantly during the selloff into the 2.39–2.41 range, confirming the bearish move. However, recent volume has decreased during the rebound into the 2.45–2.50 range, which may suggest a lack of conviction in the upside. Notional turnover also saw a large increase during the decline, reinforcing the bearish sentiment. Divergence between volume and price could indicate a potential consolidation phase ahead.

Backtest Hypothesis

The backtesting strategy involves using a 50-period and 200-period moving average crossover on the daily chart to identify trend direction, combined with RSI to filter overbought/oversold conditions and a breakout trigger above key resistance levels. Given the current bearish alignment of the moving averages and RSI in oversold territory, a short-term countertrend trade into the 2.52–2.55 resistance zone may offer a favorable risk-reward profile. This setup could be backtested using a stop-loss below the 2.35–2.40 support and a target at the 2.55–2.60 Fibonacci extension level.