Market Overview for NEAR Protocol/Yen (NEARJPY) – 24-Hour Analysis as of 2025-10-13

• NEARJPY surged to 391.7 during the session, but ended near 387.8 with mixed momentum.• Volume spiked during key breakouts but failed to confirm strong follow-through.• A potential bearish reversal is forming near recent highs as RSI shows signs of exhaustion.• Bollinger Bands indicate a recent volatility expansion, with price testing the upper band.• Fibonacci 61.8% level at ~387.8 aligns with recent closing prices, suggesting consolidation.

Price Action and Volume

The NEARJPY pair opened at 364.0 on 2025-10-12 at 12:00 ET and reached a high of 391.7 before closing at 387.8 at 12:00 ET on 2025-10-13. The 24-hour total volume was approximately 14,643.0 with a notional turnover of ~¥5,641,988.00. While the price rose sharply in the early hours, volume tailed off in the latter part of the session, indicating possible short-term profit-taking or indecision among participants.

Structure & Formations

A strong bullish reversal pattern emerged between 2025-10-13 074500 and 2025-10-13 084500, with a high of 384.0 followed by a rally to 386.4. A potential bearish divergence began forming in the late session as price made a new high while momentum waned. A long lower shadow at 2025-10-13 114500 to 387.0 suggests buyers entered at lower levels but failed to push price past 388.2.

Moving Averages and Bollinger Bands

The 15-minute 20-period moving average crossed above the 50-period moving average at mid-session, suggesting short-term bullish momentum. Price stayed above the upper Bollinger Band for much of the session, indicating elevated volatility. The 20-period MA closed the session at ~382.9, suggesting a potential retest of this level ahead.

Momentum Indicators and Fibonacci Levels

Relative Strength Index (RSI) approached overbought territory (RSI > 70) at 390.2, followed by a pullback. The move back toward 387.8 aligned closely with the 61.8% Fibonacci retracement level of the prior 15-minute swing from 369.9 to 389.4, suggesting a temporary equilibrium point. MACD remained above the zero line with a slight bearish crossover at the session’s close.

Backtest Hypothesis

Given the absence of a confirmed RSI series for NEARJPY, the backtest strategy described in the input may need to be adapted for a more liquid pair such as NEAR-USD or NEAR-USDT. Overbought RSI levels (>70) on a daily basis could signal potential short-term reversals, and a one-day holding back-test from 2022-01-01 would allow for assessing the frequency and reliability of such signals in different market conditions. This approach could be especially useful in a market like NEAR, where sharp reversals and consolidation phases are common.

Risk and Outlook

In the next 24 hours, NEARJPY may test key support at 380.2–382.1 and resistance at 387.8–389.4. A failure to hold above 380.2 could trigger a retest of intraday lows. Investors should be cautious of potential volatility and watch for a breakdown in the 20-period MA.