Market Overview for NEAR Protocol/Tether (NEARUSDT): Downtrend Confirmed with Strong Bearish Momentum

Summary
• Price dropped from 1.664 to 1.624 amid strong bearish momentum.
• RSI and MACD indicate overbought conditions turned oversold during the decline.
• Volatility expanded with a sharp intraday move below key support near 1.635.
• Bollinger Bands show price near the lower band, indicating potential mean reversion.
• Volume spiked sharply during the selloff, confirming bearish sentiment.

NEARUSDT opened at 1.664 on 2025-12-13 12:00 ET and closed at 1.624 by 2025-12-14 12:00 ET, reaching a high of 1.667 and a low of 1.605. Total volume was 6,249,047.4 and notional turnover was approximately $9,933,417.40 over the 24-hour period.

Structure & Formations

Price action on the 5-minute chart displayed several bearish candlestick formations, including engulfing patterns and a long lower shadow near the 1.620 level, suggesting sellers dominated during key price levels. A breakdown below the 1.635 support level appears to have confirmed a short-term downtrend, with 1.624 forming as a new support level.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages are both bearish, with prices trending below them. On the daily chart, the 50-period and 200-period moving averages are also bearish, indicating a broader negative bias. Price action may test the 50-period daily MA (approx. 1.643) for a potential bounce or rejection.

MACD & RSI

MACD turned bearish with a negative crossover and declining histogram, reinforcing the downward momentum. RSI dropped into oversold territory below 30, suggesting a potential short-term bounce, but with bearish divergence as price continues lower. Momentum appears to have shifted decisively to the downside.

Bollinger Bands

Volatility expanded during the selloff, with the lower band around 1.615. Price closed near the lower Bollinger Band on the 5-minute chart, hinting at possible overextension or exhaustion in the sell-off. A retest of the upper band at 1.638 may signal a reversion, but bearish control remains strong.

Volume & Turnover

Volume spiked sharply during the downward move, especially from 21:15 ET through 05:15 ET, confirming the bearish move. Notional turnover increased in line with volume, with no significant divergence between the two. The high volume during the 1.62–1.635 range indicates key distribution levels.

Fibonacci Retracements

Fibonacci levels on the 5-minute chart show price has tested 61.8% (1.636) and broken below 50% (1.652), with 38.2% (1.660) acting as a resistance on retests. On the daily scale, the 61.8% retracement of the prior bullish move sits at 1.614–1.619, which coincides with the recent low and could act as a near-term support.

Price may test 1.614–1.619 for support in the next 24 hours, with a possible bounce or further decline depending on buying pressure. Investors should monitor volume and RSI for signs of exhaustion or continuation in the bearish trend.