Near Protocol (NEAR/USD) Market Remains Bearish As Redistribution Phase Begins
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Near Protocol Price Forecast – March 7
The NEAR/USD market remains bearish as the redistribution phase begins. The overall trend of the market is clearly bearish.
The 9-period SMA (Simple Moving Average) at $3.110 is acting as dynamic resistance, preventing upward momentum. The MACD remains in negative territory with the signal line below zero, indicating sustained bearish pressure. The MACD histogram is also printing red bars, suggesting that selling momentum is still present, and buyers are struggling to reverse the trend.
NEAR/USD Market Key Levels:
Resistance levels: $4.530, $6.490, $8.250
Support levels: $3.070, $2.450, $1.500
NEARUSD – Daily Chart
The daily chart for NEARUSD shows that the market is in a redistribution phase.
Price action confirms a bearish structure with a clear rejection from the order block (OB) near $3.200, reinforcing resistance in that zone. The market previously broke structure (BOS) at $3.630, leading to continued lower highs and lower lows, a sign of a persistent downtrend. Strong support is seen around $2.450, where buyers previously stepped in, but the price is yet to show any strong bullish reversal signals.
What is the Next Move for NEARUSD?
The downtrend is likely to continue toward $2.450, with further downside potential toward $1.50 if bearish pressure persists. A strong daily close above $3.500 could slow the decline, but the overall trend remains bearish unless a breakout above $4.530 occurs.
NEAR/BTC Price Analysis
The 9-period SMA is acting as dynamic resistance, keeping the price below key levels, while the MACD remains weak with no strong bullish momentum. Price recently broke structure (BOS) at 0.00003510 BTC, confirming a bearish bias with lower highs and lower lows forming.
The order block (OB) around 0.00004400 BTC is expected to act as strong resistance, likely rejecting price back downward. If price fails to reclaim this resistance, NEARBTC could drop toward the 0.00002500 BTC support level, continuing its bearish trend.
Near Protocol (NEAR) Current Statistics
Current price: $3.190
Market Capitalization: $3,540,000,000
Trading Volume: $284,120,000
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