Market Overview for NEAR Protocol/Tether (NEARUSDT)

Summary
• NEARUSDT opened at 2.63 and closed at 2.757 within a volatile 24-hour window.
• Price broke a key descending resistance, forming bullish engulfing patterns near 2.85 and 2.92.
• Turnover surged during sharp rebounds from 2.70 and 2.63, signaling potential short-term bottoming.
• Volatility peaked between 23:00–00:15 ET as price tested 2.935 before retreating.
• Volume and turnover diverged during pullbacks under 2.77, hinting at buyer hesitation.

Market Performance and Open/Close Summary

NEAR Protocol/Tether (NEARUSDT) opened at 2.63 at 12:00 ET–1 and closed at 2.757 at 12:00 ET. The pair traded between 2.598 (low) and 3.185 (high) during the 24-hour window, reflecting a range of 23.4%. Total traded volume amounted to approximately 82.8 million NEAR, with a notional turnover of $225.1 million across 96 15-minute candles.

Key Structure and Candlestick Patterns

Price action displayed a descending resistance trendline from 2.94 at 18:30 ET to 2.82 at 22:15 ET, which was decisively broken on a bullish engulfing pattern at 23:00 ET. A double-bottom formation emerged near 2.63 and 2.68, both followed by strong volume spikes. A doji at 02:15 ET and a hanging man at 03:15 ET hinted at indecision, but strong open at 08:45 ET confirmed the bullish breakout.

Moving Averages and Momentum

On the 15-minute chart, the 20SMA crossed above the 50SMA during the 23:30 ET–00:00 ET window, suggesting short-term strength. The 50-period line, however, remained below the 100-period line, indicating that broader momentum remains mixed. On the daily chart, the 50DMA is currently above the 100DMA and 200DMA, reinforcing a medium-term bullish bias.

Bollinger Bands and Volatility

Bollinger Bands expanded significantly during the 23:00–01:00 ET window, with NEARUSDT reaching +1.3σ at 3.185. Price remained within the band for much of the session, but a notable contraction occurred between 03:45–05:45 ET, signaling a potential consolidation phase. By 08:00 ET, the band had widened again, coinciding with a sharp rally to 2.92.

Volume and Turnover Divergences

Volume spiked sharply during the 23:00–00:15 ET session and again at 11:15–11:30 ET, coinciding with highs at 3.185 and 3.098, respectively. However, during the pullback under 2.77, volume remained muted despite a notable drop in price, suggesting potential exhaustion among bears. This divergence implies the market could test key resistance levels again in the near term.

Fibonacci Retracements

Applying Fibonacci to the 2.598–3.185 swing, key levels include 2.86 (38.2%), 2.79 (50%), and 2.70 (61.8%). NEARUSDT tested the 38.2% level on two occasions before bouncing, and the 61.8% level at 2.70 acted as a temporary floor. On the daily chart, the 50% and 61.8% retracements align with recent lows, which may offer psychological support in the next 24 hours.

Backtest Hypothesis

The MACD is a key indicator for capturing momentum shifts in NEARUSDT. With its current bullish trend and recent golden-cross signal near 2.85, NEAR is in a position where short-term traders may look to deploy MACD-based strategies. If MACD data becomes available—either via a ticker identifier correction or manual golden-cross dates—we can backtest a 1-day holding strategy to assess entry points during the 23:00–00:15 ET window. This approach could provide insight into how momentum signals align with volume surges and retracement levels seen in the past 24 hours.