$NEAR One of the worst performers among the major coins today. Down around 8% over 24h, with trading volume above 40 billion.
At 14:00, a massive 49M sell-off hit; another 45M followed at 21:00. Consecutive losses broke through the old 4.10 support level. RSI has been hammered down to around 21, putting it in oversold territory. OI contract count actually rose by roughly 10% over 48h, while notional value barely changed—price down, positions piling up. This looks more like bears adding positions and driving the sell-off, rather than bulls closing out and leaving.
Funding is still positive at around 0.01%, so longs are still paying shorts. The MA20 around 4.16 is acting as resistance, and the rising support has already broken. Don’t buy the dip on a weak bounce unless it returns above 4.10 with volume. A break below the nearby low of 3.96 would keep the outlook bearish. Not investment advice.
#NEAR #Short-term
At 14:00, a massive 49M sell-off hit; another 45M followed at 21:00. Consecutive losses broke through the old 4.10 support level. RSI has been hammered down to around 21, putting it in oversold territory. OI contract count actually rose by roughly 10% over 48h, while notional value barely changed—price down, positions piling up. This looks more like bears adding positions and driving the sell-off, rather than bulls closing out and leaving.
Funding is still positive at around 0.01%, so longs are still paying shorts. The MA20 around 4.16 is acting as resistance, and the rising support has already broken. Don’t buy the dip on a weak bounce unless it returns above 4.10 with volume. A break below the nearby low of 3.96 would keep the outlook bearish. Not investment advice.
#NEAR #Short-term
