📉 $NEAR /USDT – Sharp Decline Despite Bitwise ETP Launch
🔻 Current Price: 2.106 (-7.46%)
💡 Key Highlights:
• NEAR plunged 5%, breaking below critical $2.22 support
• Bitwise launched NEAR Staking ETP, enabling institutional exposure
• Despite the launch, selling pressure remains strong amid broader market weakness
🔎 Technical Analysis:
• Price dropped from $2.294 to $2.170 within 24h (-5.42%)
• Strong resistance zone at $2.290–2.298 with multiple rejections
• Heavy volume (2.7M) breakdown at 04:00, further intensified to 2.83M at 07:00 reaching $2.172 low
• Potential double bottom formation around $2.167–2.172, suggesting possible short-term stabilization despite overall bearish momentum
⚠️ Market Outlook:
NEAR remains under significant selling pressure even with institutional adoption news. Watch for potential stabilization above $2.17, but trend stays bearish unless price reclaims $2.22 resistance.
👇 Trade Smart – $NEAR
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