The chart for stock $NEAR shows two numbers that are both true: a 43.86% increase in 30 days and a 75.75% pullback from its historical high. The former is used to indicate a reversal for bullish investors, while the latter suggests the rebound has peaked for bearish investors. However, both numbers together point to the same thing: $NEAR is in an oversold correction phase, and this correction still needs confirmation before a trend reversal.
The price rose from 3.76 on September 19th to 5.89 on October 12th, then retreated to 4.96, completing a surge and subsequent decline within a month. The 5.88% drop in 7 days indicates profit-taking. More noteworthy is the shrinking trading volume, from 2.51B on September 24th to 587M today, a significant decrease. The price hasn't collapsed, but the volume has already shrunk; this doesn't suggest a build-up of momentum, but rather uncertainty about the direction.
In my view, the trading volume accumulated between 4.79 and 5.19 for stock $NEAR will determine whether the next phase will be a continuation of the rebound or a retracement of gains. What truly needs confirmation is not which direction it "should" occur, but rather which direction the price will break when trading volume increases again. At this level, without new liquidity entering the market, any narrative is merely a battle among existing players.
Therefore, bullish investors shouldn't just focus on the 30-day moving average of 43%, and bearish investors shouldn't just talk about the ATH (Average Daily Price Movement). You're both essentially watching the same data: when the 24-hour trading volume returns to above 1B (1 billion units), will $NEAR first rise above 5.19, or will it first fall below 4.79? If it rises above 5.19, the volume-price logic for the rebound is valid; if it falls below, this 30-day gain will likely be largely erased. The conclusion comes from the market, not from arguments.
The price rose from 3.76 on September 19th to 5.89 on October 12th, then retreated to 4.96, completing a surge and subsequent decline within a month. The 5.88% drop in 7 days indicates profit-taking. More noteworthy is the shrinking trading volume, from 2.51B on September 24th to 587M today, a significant decrease. The price hasn't collapsed, but the volume has already shrunk; this doesn't suggest a build-up of momentum, but rather uncertainty about the direction.
In my view, the trading volume accumulated between 4.79 and 5.19 for stock $NEAR will determine whether the next phase will be a continuation of the rebound or a retracement of gains. What truly needs confirmation is not which direction it "should" occur, but rather which direction the price will break when trading volume increases again. At this level, without new liquidity entering the market, any narrative is merely a battle among existing players.
Therefore, bullish investors shouldn't just focus on the 30-day moving average of 43%, and bearish investors shouldn't just talk about the ATH (Average Daily Price Movement). You're both essentially watching the same data: when the 24-hour trading volume returns to above 1B (1 billion units), will $NEAR first rise above 5.19, or will it first fall below 4.79? If it rises above 5.19, the volume-price logic for the rebound is valid; if it falls below, this 30-day gain will likely be largely erased. The conclusion comes from the market, not from arguments.