Near Protocol (NEAR/USD) Market Shows Strong Reversal Signals Near Key Demand Zone
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Near Protocol Price Forecast – June 13
NEARUSD market shows strong reversal signals near key demand zone. NEARUSD has experienced sustained bearish momentum over the past several months, as evidenced by its position below the 9-day Simple Moving Average (SMA), which currently hovers around $2.420.
The RSI indicator, presently at 38.32, confirms that the market has been in oversold territory, indicating selling exhaustion. This level of RSI (Relative Strength Index), alongside the current bounce attempt near oversold conditions, often precedes a potential bullish reversal. The confluence of indicators suggests that bearish pressure is weakening and a shift in sentiment could be imminent.
NEAR/USD Market Key Levels:
Resistance levels: $3.830, $5.290, $6.490
Support levels: $2.200, $1.500, $1.000
NEAR/USD – Daily Chart
The daily chart for NEAR/USD a short-term pullback as price approaches the critical demand zone.
The price is revisiting the bullish order block (OB) zone around $2.200, an area of a previous breakout to the upside. This demand zone has held firm despite multiple tests, demonstrating strong buyer interest.
Additionally, a clear Change of Character (CHoCH) occurred earlier at $3.090, signaling a break in the prevailing downtrend and the establishment of a higher high. The price action is now forming a potential double-bottom pattern around this key OB zone, suggesting that a base may be forming for the next upward leg.
What is the next move for NEARUSD?
Looking ahead, NEARUSD is poised for a bullish reversal targeting $3.380 resistance. A clean break above $2.420 (SMA) level will likely catalyze further upside momentum. Should bullish volume accompany this move, a rally toward $3.380 is plausible, representing a potential gain of over 50% from the current level.
Continuation beyond this level could open the path toward the mid-term resistance at $4.700. However, as long as price sustains above $2.200, the bullish scenario remains valid and increasingly likely.
NEAR/BTC Price Analysis
NEARBTC remains in a strong downtrend, trading below the 9-day SMA at 0.00002280 and forming consistent lower highs. The recent breakdown below the 0.00002210 support level confirms continued bearish pressure and invalidates any short-term recovery attempts.
Price action shows rejection from the descending trendline and a bearish order block around 0.00002840, reinforcing downside momentum. With RSI hovering near oversold at 34.03, NEARBTC is likely headed toward the next support at 0.00001700.
Near Protocol (NEAR) Current Statistics
Current price: $2.230
Market Capitalization: $2,750,000,000
Trading Volume: $184,750,000
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