NEAR Protocol: Why the Correction May Not Be Over Yet
NEAR has reached the $1.40 zone — an area I previously identified as a potential reaction level. However, broader market conditions have shifted, and at this stage I no longer expect a meaningful reversal from current prices.
The overall structure remains bearish. Buying pressure is weak, liquidity is limited, and the market continues to favor risk-off behavior. In this environment, the probability of further downside remains high.
The most likely scenario is a continuation of the corrective move toward the October 2023 low around $0.98. This would imply an additional ~30% decline from current levels. Technically, this level represents a strong historical support zone and could become a more attractive area for medium-term accumulation.
Key takeaway:
Buying from current levels looks unjustified
Patience is critical in a weak market structure
Accumulation makes sense only after the deeper correction is completed
Sometimes the best trade is no trade. Let the market come to you — not the other way around.
