Market Overview for NEAR Protocol/Yen (NEARJPY) on 2025-10-26

• Price closed higher at 360.3 after a volatile 24-hour swing, breaking above prior resistance.
• Strong volume clustered during midday ET suggests possible institutional participation.
• RSI suggests overbought conditions, while MACD remains bullish.
• Bollinger Bands expanded, indicating rising volatility.
• No clear divergence between volume and price movement, signaling strong conviction in trend.

24-Hour Performance and Open/Close Summary

NEAR Protocol/Yen (NEARJPY) opened at 348.7 on 2025-10-25 at 12:00 ET and closed at 360.3 at the same time on October 26. The pair reached a high of 363.5 and a low of 345.8 during the 24-hour window. Total volume traded stood at 11,554.1, while turnover (amount) totaled 9,058.5. Price action appears to reflect strong bullish momentum, particularly in the latter half of the 24-hour period.

Structure & Formations

Price formed a strong ascending wedge in the late ET hours, with the wedge breaking to the upside on a decisive 15-minute candle. Key support levels emerged around 347.2 and 345.8, both of which were tested and held before a breakout occurred. A potential resistance-turned-support at 349.2 was later seen acting as a floor before a strong upward reversal. A bullish engulfing pattern formed around 19:45 ET, confirming a shift in market sentiment.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages show a bullish crossover around the 20-hour mark of the 24-hour period. The 50-period line remained below the 20-period line for the majority of the day, indicating a strong uptrend. On the daily chart, the 50-period line continues to trend upward, intersecting with the 100-period and 200-period lines to suggest a potential confluence zone near 350.0–352.0 as support. The 200-period line appears to be a key long-term floor.

MACD & RSI

The MACD histogram turned positive around 20:00 ET and remained bullish throughout the session, with the signal line rising to confirm the strength of the upward move. RSI reached overbought territory in the last 6 hours, peaking at 70–72. This suggests short-term overextension, and a pullback could be imminent. However, the divergence between the RSI and price action is minimal, indicating that the uptrend may persist. A 61.8% Fibonacci retracement of the 345.8–363.5 move is at 352.5, which may become a key watch level.

Bollinger Bands

Bollinger Bands expanded significantly from 03:45 ET to 08:00 ET, suggesting an increase in volatility. Price action remained well within the upper band during the breakout hours, indicating strong bullish conviction. A potential contraction is expected if the price consolidates near the 360–362 level, which may precede a reversal or continuation. The lower band acted as a support level in the early hours, confirming a trend continuation after the bounce.

Volume & Turnover

Volume saw a sharp increase after the 20-hour mark of the 24-hour period, peaking at over 2,568.5 at 08:15 ET. This volume spike coincided with the strongest price move of the session, suggesting accumulation by strong hands. Notional turnover (amount) increased in tandem with price action, reinforcing the strength of the move. No significant divergence between price and volume is observed, indicating that the uptrend remains supported.

Fibonacci Retracements

Fibonacci levels drawn from the 345.8 low to the 363.5 high show key resistance levels at 361.3 (23.6%), 358.9 (38.2%), and 356.3 (50%). The 61.8% level at 352.5 is now a critical level to watch for retracement potential. The daily swing from the previous week’s low to current high shows a 61.8% retracement at 355.0, which may act as a short-term support if the price corrects.

Backtest Hypothesis

The backtest hypothesis centers on identifying high-probability candlestick patterns and validating them using NEARJPY data. While the NEARJPY symbol appears valid in this dataset, it is not found in standard external data sources. This could imply either a niche exchange or a composite pair. For the backtest, the approach would involve identifying patterns (e.g., bullish engulfing, doji, hammers) on the 15-minute chart, entering at the open of the next bar, and exiting at the close of the bar 24 hours later. The strategy would track holding-period returns across multiple occurrences from 2022-01-01 to the present. Given the volume confirmation seen in the latest session, patterns with high volume would be prioritized in the backtest logic.