#Near plunged nearly 16% in a single day. After a sharp rally, a pullback has arrived!
NEAR fell from $5.34 at the market open on October 8 to around $4.49, hitting an intraday low of $4.30—a maximum decline of nearly 20%. However, measured from its August low of around $1.60, NEAR had already risen roughly threefold, leaving considerable short-term profit-taking pressure.
Technical indicators had also sounded an early warning: the RSI fell from above 80 to 52.7, signaling a clear loss of upward momentum. The MACD turned bearish in early October, and its red bars continued to lengthen, indicating that selling pressure was building.
NEAR fell from $5.34 at the market open on October 8 to around $4.49, hitting an intraday low of $4.30—a maximum decline of nearly 20%. However, measured from its August low of around $1.60, NEAR had already risen roughly threefold, leaving considerable short-term profit-taking pressure.
Technical indicators had also sounded an early warning: the RSI fell from above 80 to 52.7, signaling a clear loss of upward momentum. The MACD turned bearish in early October, and its red bars continued to lengthen, indicating that selling pressure was building.