NEAR Protocol (NEAR)� has been under sustained selling pressure over the past several days, with bears maintaining control across most recent trading sessions. Each attempt by buyers to initiate a recovery has been met with strong resistance, resulting in a sequence of lower highs and lower lows on the price chart.
This consistent bearish structure reflects the dominance of sellers and the cautious sentiment surrounding the broader crypto market. However, despite the ongoing downtrend, early signs are beginning to emerge that suggest bearish momentum may be weakening — opening the door for a potential trend reversal.
Buyers Aggressively Defend a Key Support Zone
On the daily chart, the $0.855 support level has proven to be a critical battleground. As price revisited this zone, buyers stepped in decisively, absorbing selling pressure and triggering a swift rebound.
The daily candle closed with a long lower wick, a classic signal indicating strong demand at lower prices. This price behavior suggests that buyers are actively “buying the dip” and are not willing to let NEAR fall further without a fight.
Although sellers have controlled the trend in recent weeks, their momentum appears to be fading near this key support. The market’s reaction at $0.855 indicates that selling pressure is being absorbed rather than expanded, increasing the probability of a short-term recovery.
Momentum Indicators Begin to Align With a Recovery Scenario
Beyond price action, momentum indicators are starting to support a more constructive outlook. The Stochastic RSI has dipped deep into oversold territory, a condition that often precedes relief rallies or trend reversals.
While an oversold reading alone does not guarantee an upside move, it significantly increases the likelihood of a bounce — especially when combined with strong price reactions at a major support level.
In NEAR’s case, the convergence of oversold momentum indicators and visible buyer absorption strengthens the argument that downside momentum may be nearing exhaustion.
Rising Volume and Social Metrics Strengthen the Bullish Case
On-chain and market data further reinforce the potential recovery narrative. Trading volume surged notably during the bounce from the $0.855 support, rising from approximately $97 million to around $453 million at the time of writing.
This sharp increase in volume suggests that the move is driven by genuine market participation rather than a weak, low-liquidity rebound.
Additionally, NEAR’s social dominance — which measures the level of discussion across social media platforms — has increased meaningfully. This growing attention indicates that more traders and investors are actively monitoring NEAR’s price action.
Historically, periods where rising social interest coincides with improving momentum have often preceded stronger price movements for NEAR. A similar setup could be forming once again.
Key Price Levels to Watch
At present, the $0.855 level remains the most critical support zone. As long as buyers continue to defend this area, NEAR has the potential to move toward nearby resistance levels.
One notable target is the liquidity zone around $1.08, where liquidation data suggests a concentration of leveraged positions totaling approximately $264,000. This area could act as a short-term magnet for price if bullish momentum accelerates.
However, failure to hold the $0.855 support would invalidate the recovery thesis and likely open the door to a deeper continuation of the downtrend.
Market Outlook
The coming trading sessions will be decisive. While bearish pressure appears to be weakening, bulls have yet to fully reclaim control. Current price action suggests a transition phase, where buyers are testing the strength of the market rather than committing aggressively.
If momentum continues to build and key levels are held, this could mark the early stages of a broader recovery. Conversely, a breakdown below support would reinforce the bearish trend and shift sentiment back to the downside.
Conclusion
NEAR is currently at a pivotal point. Signs of buyer strength, improving momentum indicators, rising volume, and increasing social engagement all point toward a possible reversal scenario. That said, confirmation is still required, and risk remains elevated.
Market participants should closely monitor price behavior around key support and resistance levels before drawing firm conclusions.
⚠️ Disclaimer:
This article is for informational and educational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are highly volatile. Always conduct your own research before making any investment decisions. The author is not responsible for any financial losses incurred.
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