$NEAR Testing the Lows, Eyes on Rebound 🚀📉

Key Metrics:

• Current Price: $5.709 (-3.78%)

• 24H High: $6.157

• 24H Low: $5.60

Volume:

• NEAR: 20.74M

• USDT: 122.44M

Technical Analysis

1. Moving Averages:

• MA7: $5.734 – Short-term moving average acting as immediate resistance.

• MA25: $5.894 – Highlighting a downward trend.

• MA99: $5.641 – Offering crucial support in the near term.

2. Price Action:

• The price recently bounced off the $5.574 support zone, indicating buyers stepping in.

• A descending trend from $6.389 suggests bearish pressure, but signs of consolidation are emerging.

3. Volume & Momentum:

• Volume shows sustained interest, but declining sell volume may hint at an impending reversal.

4. Support & Resistance Levels:

• Support: $5.604 – Key for stability; breaking below this could extend losses.

• Resistance: $5.894 – A breakout here may reignite bullish momentum.

Trading Strategy

• Bullish Case: Watch for a break above $5.894 to target $6.157 and beyond.

• Bearish Risk: A fall below $5.574 could lead to deeper corrections towards $5.300 levels.

NEAR Protocol is battling bearish winds—will it reclaim its heights or dive deeper? Stay sharp, traders! 💹

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