NEAR remains in LH/LL downtrend; key BOS levels at $1.1082 (bull) and $1.0240 (bear)
NEAR Protocol (NEAR) remains in a clear downtrend, trading near $1.03 and below the EMA20 ($1.23). Technicals show LH/LL market structure with RSI ~28 (oversold) and negative MACD histogram. Key support levels: $1.0240 (near-term) and $0.8410 (major). Key resistances / bullish BOS: $1.1082 (break above confirms change of structure toward HH/HL) and $1.33 (Supertrend resistance). A bearish BOS under $1.0240 would accelerate downside toward $0.8410. Multi-timeframe analysis identified 11 significant levels across 1D, 3D and 1W, with heavier resistance on the weekly timeframe, making upside breakouts difficult without volume. NEAR’s movement is correlated with Bitcoin — BTC weakness near $70k increases downside risk for NEAR. Analysts note low volume, bearish Supertrend and EMA trend alignment favor continuation of the downtrend; only a volume-backed close above $1.1082 would signal a credible trend reversal. This analysis is structure-focused and not investment advice.
Bearish
The analysis highlights a dominant LH/LL structure, bearish Supertrend, price below EMA20 and negative MACD — classical indicators of continued downside. Key near-term support at $1.0240 is critical: a confirmed break (BOS) would likely trigger accelerated selling toward $0.8410, while the upside requires a decisive, volume-backed close above $1.1082 to shift to HH/HL. Low volume and heavy weekly resistances make bullish breakouts unlikely in the short term. Correlation with Bitcoin near $70k adds systemic downside risk for altcoins; historically, altcoins follow BTC momentum, and NEAR has shown amplified moves on BTC drawdowns. For traders: consider short bias or tight risk management on longs until a bullish BOS occurs; watch volume and BTC levels ($70k support and $74k resistance) for directional confirmation. In the medium-to-long term, sustained recovery in BTC plus a break above EMA20 and $1.1082 with volume would be required to validate trend reversal.