$NEAR
SWEPT THE HIGHS — NOW THE BEARS HAVE A LINE TO BREAK. 📉
The latest closed NEARUSDT H1 Futures candle closed at $5.160 on September 28 at 06:59 UTC.
My primary bias is BEARISH, but the $5.105 demand level still needs to break for further downside confirmation.
Three key clues:
🔹 Price swept the previous $5.499 high, reaching $5.580, before sharply reversing.
🔹 H1 then formed lower highs and closed below the $5.171 local low at $5.159, creating a short-term bearish CHoCH.
🔹 The breakdown candle traded 7.55M NEAR, around 1.19× the preceding 20-hour average. However, the latest volume dropped to 4.16M (0.67× average), so confirmation is still important.
Wyckoff:
$5.580 could potentially be a Buying Climax candidate following the sharp markup, but this is not yet confirmation of a distribution phase.
SMC:
• Next weak low: $5.105
• Nearby structural ceiling: $5.299
• Supply zone: $5.24–$5.30
• Demand zone: $5.00–$5.105
• Next downside liquidity pool: $4.758, if demand breaks
The key level now is $5.105. A decisive break could expose the lower liquidity zone, while holding demand would keep the bearish setup unconfirmed.
#NEAR #NEARUSDT #Crypto #SMC #Wyckoff #BinanceSquare
SWEPT THE HIGHS — NOW THE BEARS HAVE A LINE TO BREAK. 📉
The latest closed NEARUSDT H1 Futures candle closed at $5.160 on September 28 at 06:59 UTC.
My primary bias is BEARISH, but the $5.105 demand level still needs to break for further downside confirmation.
Three key clues:
🔹 Price swept the previous $5.499 high, reaching $5.580, before sharply reversing.
🔹 H1 then formed lower highs and closed below the $5.171 local low at $5.159, creating a short-term bearish CHoCH.
🔹 The breakdown candle traded 7.55M NEAR, around 1.19× the preceding 20-hour average. However, the latest volume dropped to 4.16M (0.67× average), so confirmation is still important.
Wyckoff:
$5.580 could potentially be a Buying Climax candidate following the sharp markup, but this is not yet confirmation of a distribution phase.
SMC:
• Next weak low: $5.105
• Nearby structural ceiling: $5.299
• Supply zone: $5.24–$5.30
• Demand zone: $5.00–$5.105
• Next downside liquidity pool: $4.758, if demand breaks
The key level now is $5.105. A decisive break could expose the lower liquidity zone, while holding demand would keep the bearish setup unconfirmed.
#NEAR #NEARUSDT #Crypto #SMC #Wyckoff #BinanceSquare
