Market Overview for NEAR Protocol/Tether (NEARUSDT)

Summary
• Price declined from 1.561 to 1.493 on 24-hour 5-minute data with bearish volume confirmation.
• A key support level formed near 1.48–1.49, with a potential bullish reversal near 1.492–1.495.
• Volatility expanded mid-day before consolidating, with RSI suggesting oversold conditions.
• Bollinger Bands showed a contraction-to-expansion pattern, hinting at potential range-break activity.
• NEARUSDT exhibited a strong bearish bias, but Fibonacci retracements suggest short-term pullback potential.

NEAR Protocol/Tether (NEARUSDT) opened at 1.561 on 2025-12-22 12:00 ET, hit a high of 1.563, and closed at 1.493 by 2025-12-23 12:00 ET, with a low of 1.473. The total volume traded over 24 hours was approximately 8.38 million units, with a notional turnover of about $13.4 million.

Structure & Formations

The price declined in a bearish sequence from 1.561 to 1.493, forming a descending pattern with notable support at 1.48–1.49. A potential bullish reversal appeared near 1.492–1.495, indicated by a bullish harami and a slight close above this level. A doji near 1.502–1.503 hinted at indecision during consolidation.

Moving Averages

On the 5-minute chart, the price remained below the 20 and 50-period moving averages, reinforcing bearish momentum. On the daily chart, it closed below the 50, 100, and 200-period MAs, suggesting medium-term bearish bias.

MACD & RSI

MACD showed negative divergence, with bears maintaining control. RSI reached oversold territory near 30, suggesting potential for a short-term bounce. However, momentum remained weak, with no signs of a full reversal in sight.

Bollinger Bands

The bands initially contracted between 1.48–1.505 before a volatility expansion occurred. Price traded near the lower band for much of the session, suggesting continued bearish pressure but with potential for a mean reversion if it tests 1.492–1.495.

Volume & Turnover

Volume spiked during the sharp decline from 1.561 to 1.504, confirming bearish momentum. Turnover was consistent with price direction, showing no divergence. A large volume candle near 1.504–1.507 indicated a potential short-covering or accumulation area.

Fibonacci Retracements

On the 5-minute chart, the price retraced to 61.8% of the previous bullish swing (1.492–1.508) before consolidating. On the daily chart, the 38.2% level near 1.495 appears as a potential near-term resistance or support pivot.

The market appears to be consolidating after a sharp bearish move, with key support near 1.48 and potential for a short-term bounce. NEARUSDT may test 1.495–1.503 over the next 24 hours, but bearish pressure remains strong. Investors should be cautious of further downside if volume spikes again at higher levels.