NEAR briefly reclaimed $3 before quickly falling back, with the price now below $2. Foreign media analysis suggests the current movement is approaching the key support range of $1.77 to $1.88, which will determine whether further downside pressure follows in the short term.
The rebound above $3 failed to continue.
The article states that NEAR rose over 35% at the beginning of the month and briefly surpassed $3, but its upward momentum quickly stalled after encountering resistance near $3.09 to $3.21, followed by a significant pullback.
From a price action perspective, the price has returned to the vicinity of the previous rebound's starting point. If buying pressure fails to absorb the selling pressure at this level, the recent recovery structure may be broken, and the market could revert to a downward trend.
$1.77 to $1.88 is the short-term focus.
Foreign media believe that the $1.77 to $1.88 range is currently the most important support zone. This interval also corresponds to a key defensive level in recent price action; a further breakdown could lead to an extended decline.
The text notes that if this support zone is effectively broken, NEAR could potentially decline to $1.20, with a historical support level near $0.97. According to this analysis, there is still significant downside potential from current levels.
- Key support zone: $1.77 to $1.88
- Rebound observation levels: $2.30, $2.80
- Potential downside targets: $1.20, $0.97
Increased trading volume indicates that selling pressure remains.
The article also noted that trading volume has significantly increased over the past few days, indicating heightened trading activity. Combined with the continued price weakness, this typically suggests that selling pressure in the market is still being released.
Meanwhile, the cited fund flow indicator has fallen below the zero line, indicating signs of capital outflow; the trend indicator has also turned bearish. Foreign media conclude that NEAR has not yet escaped its short-term weak pattern.
However, if the price can hold the $1.77 to $1.88 range, a technical rebound is still possible, initially targeting $2.30, followed by an observation of whether a return to around $2.80 may be feasible.