Near Protocol (NEAR/USD) Market Shows Bearish Continuation With Key Resistance And Imbalance
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Near Protocol Price Forecast – March 16
The Near Protocol market shows a bearish continuation with key resistance and imbalance. The bearish move will likely resume after the price enters the bearish order block at $3.070 resistance.
The 9-day Simple Moving Average (SMA) at $2.610 is acting as a dynamic resistance, with the price struggling to maintain levels above it. The Relative Strength Index (RSI) is at 40.78, indicating weak momentum and suggesting that the market remains in bearish territory. The RSI staying below the neutral 50 level confirms the lack of bullish strength, increasing the probability of further downside movement.
NEAR/USD Market Key Levels:
Resistance levels: $3.070, $4.530, $6.490
Support levels: $2.450, $1.500, $1.000
NEARUSD – Daily Chart
The daily chart for NEARUSD shows that the market is making a retracement into the bearish order block.
Price action reveals a clear Break of Structure (BOS) below $2.700, confirming a bearish trend continuation. The recent pullback is approaching a bearish Order Block (OB) near $3.070, which aligns with previous support-turned-resistance.
This area is a supply zone where sellers can regain control. The rejection from this level could accelerate further declines, especially given the formation of the consistent lower highs.
What is the next move for NEARUSD?
If the price fails to break above the $3.070 resistance, it is likely to resume the downtrend toward the $2.450 support level. A further breakdown below this zone may open the path toward $1.500, which is a major psychological level. Bearish pressure remains dominant unless a strong bullish breakout occurs above the $3.070 supply zone.
NEAR/BTC Price Analysis
NEAR/BTC Price AnalysisNEARBTC remains in a bearish trend after breaking key support levels, with the price trading below the 9-day SMA at 0.00003140 BTC. The RSI is at 42.22, indicating weak bullish momentum and room for further downside.
Price is approaching a bearish Order Block (OB) around 0.00004000 BTC, which could act as a strong resistance zone. A rejection from this area may trigger a continuation to the downside with 0.00002500 BTC and 0.00001700 BTC as potential support targets.
Near Protocol (NEAR) Current Statistics
Current price: $2.640
Market Capitalization: $3,160,000,000
Trading Volume: $175,820,000
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