Near Protocol (NEAR/USD) Market Maintains Bearish Structure Amid Weak Recovery Attempts
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Near Protocol Price Forecast – April 4
NEARUSD market maintains a bearish structure amid weak recovery attempts. The market seems to be undergoing a retracement to the upside as the bears take partial profits.
The NEARUSD daily chart currently shows bearish momentum, with technical indicators reinforcing the downside bias. The 9-day Simple Moving Average (SMA) at $2.560 is acting as dynamic resistance, and the price is trading below it at around $2.490. Additionally, the Stochastic Oscillator is oversold, with %K at 17.03 and %D at 18.86, suggesting weak buying interest and no immediate bullish crossover. This indicates that sellers still dominate the market despite minor consolidations.
NEAR/USD Market Key Levels:
Resistance levels: $3.070, $4.530, $6.490
Support levels: $2.140, $1.500, $1.000
NEAR/USD – Daily Chart
The daily chart for NEAR/USD shows that the market is declining alongside the trendline.
Price action reveals a consistent bearish structure marked by lower highs and lower lows. Break of Structure (BOS) labels confirm key bearish shifts at $3.070 and again around $2.140. The recent attempt to form a support base around $2.140 was weak, with the price failing to sustain a rally beyond $2.700. The downward-sloping trendline from the $4.530 peak continues to suppress upward momentum, reinforcing the bearish sentiment.
What is the next move for NEARUSD?
Looking ahead, NEARUSD may attempt a rally toward $3.070 or even test the descending trendline. However, unless a strong bullish breakout occurs above this trendline, the broader outlook remains bearish. If the price gets rejected again at this level, a sharper decline toward the key support at $2.140 is expected, with a potential drop to $1.500 or even $1.000 in an extended selloff. The market structure and indicators currently favor a bearish continuation.
NEAR/BTC Price Analysis
NEARBTC remains bearish, trading below the 9-day SMA at 0.00003070 BTC, which is acting as dynamic resistance. Price recently rejected the 0.00003510 BTC resistance zone, forming a clear rejection block that signals continued selling pressure.
Multiple Break of Structure (BOS) points confirm the prevailing downtrend, and the MACD shows bearish momentum with both signal lines below zero. If the price breaks below the 0.00002970 BTC support, a further drop toward 0.00002500 BTC is likely.
Near Protocol (NEAR) Current Statistics
Current price: $2.490
Market Capitalization: $2,970,000,000
Trading Volume: $174,320,000
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