After experiencing a sharp decline, NEAR has stabilized, showing growing buyer interest. Let’s examine what the future holds for NEAR.
Situation of the NEAR Price
After dropping from $8.4 to $3, NEAR's price rebounded to reach a resistance zone around $5.2, but then fell to $3.4. Since then, it has shown signs of recovery reaching a new peak just below $6, though it has since retreated. Importantly, these fluctuations have led to the formation of higher lows, suggesting a potential bullish reversal. At the time of writing, NEAR is priced around $4.2, below its previous value zones. Technical indicators point to a slight rebound visible in recent price fluctuations.
Focus on Derivatives (NEAR/USDT)
Open interest on NEAR/USDT contracts initially declined but then rebounded, mirroring the asset's movement. This indicates a healthy market with sentiment skewed towards buying. The positive funding rate supports this. However, the CVD shows a divergence with recent indicators, indicating ongoing selling interest. The liquidation heatmap for NEAR/USDT reveals it has entered a liquidation zone between $4.2 and $4.5, with persistent buyer interest, posing a risk of increased volatility.
Forecasts for the NEAR Price
As long as NEAR stays above $3.5, a movement towards $4.5 is possible, with a breakthrough leading to $5. Key resistance levels are at $5.9 and $6.5. If NEAR falls below $3.5, support might be found at $3.4, with further support at $3.1, and between $2.7 and $2.45.
Despite facing challenges, NEAR shows signs of recovery. If this positive trend continues, a steady rise and stabilization of prices can be expected in the medium term. Monitoring price reactions at critical levels is essential.
