NEAR/USDT โ Bearish Continuation Setup ๐
Timeframe: 1H
Exchange: Binance
Bias: Bearish
Setup: Resistance Rejection + Descending Trendline
๐ Market Structure
NEAR/USDT is showing a potential bearish continuation setup after a significant price decline from the 4.80 region.
Price has recently experienced a recovery, but it is now approaching a key resistance zone where multiple technical factors align:
- Descending trendline resistance
- Fibonacci retracement resistance
- Previous price reaction zone
This area could become a potential supply zone if buyers fail to establish a strong breakout.
๐ฏ Key Technical Levels
Level| Price
Major resistance| 4.803
0.786 Fibonacci| 4.609
0.618 Fibonacci| 4.458
0.500 Fibonacci| 4.351
Current price| 4.421
Target zone| 3.900
๐ Trade Scenario
The primary scenario is to wait for price to retrace into the resistance zone and look for bearish confirmation.
Potential price movement:
1. Price makes a short-term bullish retracement toward the 4.45โ4.50 area.
2. Buyers fail to sustain momentum above the resistance zone.
3. Price rejects the descending trendline and resumes its bearish movement.
4. A breakdown below local support could accelerate the move toward 4.20, 4.05, and ultimately 3.90.
The blue projected path illustrates this potential scenario, not a guaranteed price movement.
โ ๏ธ Trade Invalidation
A strong 1H candle close above the resistance zone, followed by a successful retest, could weaken the bearish setup.
A sustained breakout above 4.609 would further challenge the bearish bias, while a move above 4.803 would invalidate the broader bearish structure shown in this analysis.
๐ง Trading Plan
Patience is key. Rather than entering blindly, wait for price action confirmation around the resistance zone.
Focus on:
- Rejection candles
- Bearish market structure
- Volume confirmation
- Risk-to-reward ratio
- Proper stop-loss placement
The idea is simple: Let price reach the resistance zone, wait for confirmation, and then evaluate the potential downside.
This is a technical analysis scenario, not financial advice. Always manage risk and remember that market conditions can change.