Market Overview for NEAR Protocol/Tether USDt (NEARUSDT)

• NEARUSDT traded in a 24-hour range of $2.659–$2.772, closing near the upper end at $2.707 after an early morning rally.
• Momentum dipped slightly in late afternoon trading, with RSI nearing neutral territory after a brief overbought condition in the early hours.
• Volatility expanded during the 12:00–15:00 ET window, with large 15-minute candles indicating potential trend exhaustion.
• Bollinger Bands widened in response to increased volume, particularly during the 00:00–03:00 ET surge.
• Volume spiked to over 1.8M NEAR at 12:45 ET, coinciding with a sharp pullback, signaling potential distribution or reversal.

The NEAR Protocol/Tether USDt pair opened at $2.699 on 2025-09-10 at 12:00 ET and closed at $2.707 on 2025-09-11 at 12:00 ET, reaching an intraday high of $2.772 and a low of $2.659. Total volume for the 24-hour period was approximately 18.9 million NEAR, with a notional turnover of roughly $50.7 million (based on average price of $2.70).

Structure & Formations

Key support levels emerged around the $2.68–$2.69 and $2.65–$2.66 regions, where the price found buying interest multiple times during pullbacks. Resistance was initially capped at $2.72–$2.73 before breaking out into $2.74–$2.75 in the early morning hours. A strong bearish engulfing pattern appeared at 19:30 ET, confirming a short-term reversal after a brief upward thrust. Later, a bullish morning star-like formation formed around 00:00–00:30 ET, followed by a large-bodied bullish candle that marked the day’s high. A doji appeared at 04:45 ET, signaling indecision after a consolidation phase.

Moving Averages

On the 15-minute chart, the price briefly crossed above the 50-period moving average during the 00:30–03:00 ET window, but failed to hold, reverting below to indicate weakening momentum. The 20-period MA acted as a dynamic support around $2.68–$2.69, which was tested multiple times. On a daily timeframe, the 50-day MA appears to be forming a potential support base near $2.67, with the price currently trading above the 100- and 200-day MAs, suggesting a constructive trend at longer timeframes.

MACD & RSI

The MACD turned positive during the overnight and early morning hours, aligning with a breakout above the 20-period MA, but then diverged as price pulled back in the late morning. RSI reached overbought levels around 80 in the 01:30–02:30 ET window, then fell back into neutral to slightly oversold levels by 16:00 ET. The divergence between RSI and price during the afternoon pullback may suggest weakening bullish sentiment or a potential short-term consolidation.

Bollinger Bands

Volatility expanded significantly during the 00:00–03:00 ET period, with Bollinger Bands widening as NEARUSDT surged toward $2.77. By 04:00 ET, the price moved into the upper band but remained within the channel until a pullback began at 05:00 ET. Afternoon volatility saw a contraction, with the price drifting within the narrowing bands, suggesting a consolidation phase. The recent expansion and subsequent contraction may indicate a potential breakout or breakdown setup in the near term.

Volume & Turnover

Volume spiked to over 1.8 million NEAR at 12:45 ET, coinciding with a sharp decline in price, suggesting possible distribution or short-term profit-taking. High turnover also occurred during the overnight rally, with over $12 million notional volume recorded between 00:00–03:00 ET. A divergence between price and volume was observed during the morning pullback, with the price declining without a corresponding rise in volume—this could indicate a lack of conviction in the bearish move.

Fibonacci Retracements

Applying Fibonacci retracement levels to the key 15-minute swing from $2.68 to $2.75, the $2.71–$2.72 range corresponds to the 61.8% and 78.6% levels, which the price tested and failed to hold. On a daily chart, the 61.8% retracement of the prior week’s swing aligns with $2.69–$2.70, where the price found support multiple times during the 24-hour period.

Backtest Hypothesis

A potential backtesting strategy could leverage the 50-period moving average on the 15-minute chart as a dynamic entry trigger. Long entries are considered when the close crosses above the 50 MA with increasing volume, while exits occur on a close below the 50 MA with declining volume. Given the recent volatility and multiple crossovers, this approach might capture short-term directional moves but would require careful risk management due to the high noise in the 15-minute timeframe. The observed bearish engulfing pattern and RSI divergence offer early signals that could be integrated to filter false breakouts.