Market Overview for NEAR Protocol/Tether (NEARUSDT): Volatility and Oversold Signals Emerge

• Price dropped from 2.15 to 1.92 amid sustained bearish momentum.
• Volume surged near the close as NEARUSDT approached key support at 1.90.
• RSI approached oversold territory, suggesting potential near-term reversal.
• Bollinger Bands show expanding volatility after a consolidation phase.
• Fibonacci retracement levels at 1.93 and 1.83 could dictate short-term direction.

The NEAR Protocol/Tether (NEARUSDT) pair opened at 2.13 on 2025-11-02 at 12:00 ET, reaching a high of 2.202 and a low of 1.83 before closing at 1.916 at 12:00 ET on 2025-11-03. Total 24-hour volume was 18,297,465.5, with a turnover of approximately $36,572,493 (assuming $1.916 as the closing rate for turnover estimate). Price action revealed a significant downtrend, followed by a sharp rebound toward the end of the 24-hour period.

Structure on the 15-minute chart showed a bearish breakdown from 2.15 to 1.90, followed by a rally that formed a bullish engulfing pattern around the 1.92–1.93 level. Key support levels at 1.93 and 1.90 were tested, with the latter holding briefly. A doji formed near 1.92, signaling indecision and potential reversal. Resistance levels above 2.00 and 2.05 remain critical for a bullish breakout to be validated.

Moving averages on the 15-minute chart showed the price closing below both the 20-period and 50-period SMAs, reinforcing the bearish bias. On the daily chart, the 50-period SMA crossed below the 200-period SMA, a bearish signal. The 200-period SMA sits at approximately 2.10, acting as a psychological barrier for a near-term recovery. The 1.93–1.95 area aligns with the 61.8% Fibonacci retracement level of the prior 1.83–2.202 swing, making it a potential pivot zone.

MACD showed a bearish crossover and remained in negative territory, indicating continued selling pressure. RSI approached the 20 threshold near the close, hinting at oversold conditions and possible buying interest. Bollinger Bands widened significantly from 1.93 to 1.83 as the price collapsed, suggesting increased volatility. The price closed just above the lower band, indicating potential for a short-term bounce but also a risk of further downside if momentum remains bearish.

Volume and turnover spiked during the last three hours, with the 1.83–1.93 range seeing heavy accumulation. This divergence between price and volume may signal a shift in sentiment. Notional turnover surged as the price tested the 1.90 level, suggesting potential entry by longs. However, divergences between price and volume could persist if bearish momentum is not fully spent.

Fibonacci retracement levels at 1.93 (61.8%) and 1.83 (100%) are critical for near-term direction. A break above 1.95 could trigger a 1.97–2.00 rebound, while a drop below 1.88 may lead to a retest of 1.83.

Backtest Hypothesis: If RSI for NEARUSDT confirms an oversold condition (e.g., RSI < 20 for two consecutive periods), and price forms a bullish candlestick pattern (e.g., bullish engulfing or hammer) near a key Fibonacci level, a short-term long entry could be initiated. The stop-loss would be placed below the most recent swing low, with a target at the next 61.8% retracement level. This strategy would require accurate RSI data for NEARUSDT—ideally from a reliable source such as Binance or CoinMarketCap. Once the symbol is confirmed, a historical backtest could validate the success rate and risk-reward profile of this approach.