NEAR is approaching a key inflection point on the 4H timeframe. After breaking above the $2.68–2.70 range — a level that acted as major resistance throughout May and early June — price is now retesting it as support. This kind of structure flip is often seen at critical turning points in a trend, especially when reinforced by other forms of confluence.
In this case, the horizontal demand zone aligns perfectly with an ascending trendline that has held since late June, adding technical strength to this area. So far, NEAR has maintained a series of higher lows, indicating bullish structure remains intact — but momentum is clearly weakening.
Stochastic RSI is deep in the oversold region, which may point to short-term bounce potential. However, bulls need to defend this level with conviction. If the trendline breaks and price closes below this support box, the door opens for a deeper retracement toward the $2.10 macro demand zone from early summer.
This setup is a classic example of trend continuation vs. trend breakdown. Holding the zone could lead to a resumption of the move toward $3+, while failure here would shift the market bias short-term.
📊 Watching for:
– Bullish engulfing or wick rejections off support
– Trendline breakdown and bearish close
– Volume confirmation for either scenario
This zone is where patience and confirmation matter most. Let the market reveal its hand.
In this case, the horizontal demand zone aligns perfectly with an ascending trendline that has held since late June, adding technical strength to this area. So far, NEAR has maintained a series of higher lows, indicating bullish structure remains intact — but momentum is clearly weakening.
Stochastic RSI is deep in the oversold region, which may point to short-term bounce potential. However, bulls need to defend this level with conviction. If the trendline breaks and price closes below this support box, the door opens for a deeper retracement toward the $2.10 macro demand zone from early summer.
This setup is a classic example of trend continuation vs. trend breakdown. Holding the zone could lead to a resumption of the move toward $3+, while failure here would shift the market bias short-term.
📊 Watching for:
– Bullish engulfing or wick rejections off support
– Trendline breakdown and bearish close
– Volume confirmation for either scenario
This zone is where patience and confirmation matter most. Let the market reveal its hand.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Try our strategy optimizer at quanttradingpro.com
Developing free strategies weekly stay tuned...
Join our discord discord.gg/2systG9frc
We provide education & tools.
Developing free strategies weekly stay tuned...
Join our discord discord.gg/2systG9frc
We provide education & tools.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.