BTC drops only 1.8%, ETH drops 2.4%, yet NEAR can smash more than 14% in a single day on the daily chart. This can’t be brushed off with just “the overall market isn’t doing well.” NEAR’s support is clearly much more fragile than that of mainstream assets.
Earlier, it surged from 1.9 to 5.5. Then it fell from 5.34 to 4.74, and afterwards it saw a daily decline of over 14%. A rapid rally can be driven by sentiment—but during a pullback, whether there are buyers stepping in determines whether the chips are actually worth anything.
Don’t treat NEAR as a token that simply follows the benchmark with small retracements: this round of price action has already shown that once the broader market loosens up, NEAR will be the first one to be cashed out.
#NEAR
Earlier, it surged from 1.9 to 5.5. Then it fell from 5.34 to 4.74, and afterwards it saw a daily decline of over 14%. A rapid rally can be driven by sentiment—but during a pullback, whether there are buyers stepping in determines whether the chips are actually worth anything.
Don’t treat NEAR as a token that simply follows the benchmark with small retracements: this round of price action has already shown that once the broader market loosens up, NEAR will be the first one to be cashed out.
#NEAR