Watching $NEAR for a while now, it’s been steadily sliding downward, which is a bit rough for anyone who bought near the top in previous rallies. The 4H chart shows the price at $3.817 sitting below all the moving averages: MA7 ($3.819), MA25, and MA99, clearly confirming the downtrend. The 4H RSI is also hovering at 33.77. Although that signals oversold conditions, there’s no sign of a strong recovery yet.
Over the past week, $NEAR has fallen by as much as 21.10%, underperforming the broader market and other smart contract platforms by a wide margin, which points to intense selling pressure. In recent days, the NEAR community approved cutting the annual token issuance rate from 2.5% to 1.6% for 24 months. In theory, this is positive news for the long term because it reduces inflation, but it clearly hasn’t made much difference in the short term—the price is still plunging.
Derivatives data also shows Open Interest down 6.2%, while the whales’ long/short ratio (1.9125) is much higher than that of retail traders (1.1815). Are the big players accumulating, or are they stuck holding losses at the top? 😏
Given the current situation, I’m still leaning toward the short side for $NEAR .
Over the past week, $NEAR has fallen by as much as 21.10%, underperforming the broader market and other smart contract platforms by a wide margin, which points to intense selling pressure. In recent days, the NEAR community approved cutting the annual token issuance rate from 2.5% to 1.6% for 24 months. In theory, this is positive news for the long term because it reduces inflation, but it clearly hasn’t made much difference in the short term—the price is still plunging.
Derivatives data also shows Open Interest down 6.2%, while the whales’ long/short ratio (1.9125) is much higher than that of retail traders (1.1815). Are the big players accumulating, or are they stuck holding losses at the top? 😏
Given the current situation, I’m still leaning toward the short side for $NEAR .
