Near Protocol (NEARUSD) Market Continues Bearish Trend with Weak Momentum
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Near Protocol Price Forecast – February 7
The Near Protocol market continues its bearish trend with weak momentum and liquidity gaps. A minor retracement to the upside may likely be faced with resistance from the liquidity void above $3.800.
The 9-SMA at $3.780 is acting as dynamic resistance, confirming bearish sentiment as the price remains below it. The MACD line continues below the signal line, signalling strong downside momentum. There is no immediate sign of a bullish crossover, meaning sellers remain in control of the market.
NEAR/USD – Daily Chart
The daily chart for NEARUSD shows that the selling pressure remains consistent against the bulls.
NEARUSD recently broke below the $4.410 swing low, confirming a bearish Break of Structure (BOS). A liquidity void has formed above $3.800, suggesting price may experience short-term pullbacks before continuing downward. The key support levels to watch are $3.070 and $2.450, with further weakness potentially driving price toward $1.500.
What is the outlook of NEARUSD?
What is the outlook of NEARUSD?A short-term retracement into the liquidity void could attract more sellers before another leg down. If the price fills the liquidity void and fails to break above $4.530, the bearish structure remains intact. The next major downside target is $2.450, where buyers may attempt to step in for a potential reversal.
NEAR/BTC Price Analysis
NEAR/BTC Price AnalysisSimilarly to NEARUSD, NEARBTC remains in a strong downtrend, trading below the 9-SMA at 0.00002800 BTC, confirming bearish momentum. The Break of Structure (BOS) below 0.00003840 BTC has led to further declines, with prices struggling to find support.
A liquidity void above 0.00003800 BTC suggests a potential short-term retracement before continuing downward. If the bearish structure holds, the next key target is 0.00002500 BTC, where buyers may attempt to slow the decline.
NEARUSD Market Key Levels:
Resistance levels: $4.530, $6.490, $8.250
Support levels: $3.070, $2.450, $1.500
Near Protocol (NEAR) Current Statistics
Current price: $3.210
Market Capitalization: $3,780,000,000
Trading Volume: $181,170,000
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