NEAR is currently facing heavy selling pressure after failing to break above the $2.508–$2.570 resistance zone. This zone has acted as a strong supply area, with multiple “S” sell signals appearing here in recent sessions. The rejection from this level aligns with the broader downtrend structure that has been in place since July 29.
Price is now hovering just below the $2.471 level, which is acting as immediate resistance. A decisive rejection here is likely to trigger further downside toward the $2.385 support. If sellers maintain momentum, the next bearish targets will be $2.301 and potentially the $2.200–$2.150 zone on an extended move.
The market structure remains in a pattern of lower highs and lower lows, and the recent rally appears to be a corrective move rather than a trend reversal. Unless NEAR can close strongly above $2.570, the dominant trend remains bearish.
Trading Setup
• Entry: Around $2.470–$2.500 on rejection confirmation
• Stop-loss: Above $2.570
• Take-profit 1: $2.385
• Take-profit 2: $2.301
• Extended Target: $2.200–$2.150 if selling accelerates
• Risk-Reward: Around 2.5:1
Risk Caution
While the setup favors the downside, NEAR can experience sharp short-covering bounces. Traders should consider booking partial profits after a drop of around 100 pips in their favor to protect gains and reduce exposure to sudden reversals.
Price is now hovering just below the $2.471 level, which is acting as immediate resistance. A decisive rejection here is likely to trigger further downside toward the $2.385 support. If sellers maintain momentum, the next bearish targets will be $2.301 and potentially the $2.200–$2.150 zone on an extended move.
The market structure remains in a pattern of lower highs and lower lows, and the recent rally appears to be a corrective move rather than a trend reversal. Unless NEAR can close strongly above $2.570, the dominant trend remains bearish.
Trading Setup
• Entry: Around $2.470–$2.500 on rejection confirmation
• Stop-loss: Above $2.570
• Take-profit 1: $2.385
• Take-profit 2: $2.301
• Extended Target: $2.200–$2.150 if selling accelerates
• Risk-Reward: Around 2.5:1
Risk Caution
While the setup favors the downside, NEAR can experience sharp short-covering bounces. Traders should consider booking partial profits after a drop of around 100 pips in their favor to protect gains and reduce exposure to sudden reversals.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Trade forex, indices, stocks and metals with up to US$100.000 in company's funding.
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.