🔥 $NEAR Downtrend still in control, but I'm starting to see some bottoming signs
Hey everyone, checking in on NEAR today. It's been rough – clear downtrend with price consolidating near the lows, and the charts aren't exactly screaming "buy" yet. But after watching it for a while, I think there might be a contrarian setup forming if you're patient.
*Quick volume take:
Last session volume was super low at around 22k, which is a big drop from the crazy 114M we saw during that heavy sell-off on Jan 24. Low volume during consolidation often means the selling pressure is easing up – sellers might be exhausted.
*Capital flow stuff:
Contracts are still seeing net outflows (-2.27M in 24h, -17.69M over 7 days), so institutions haven't flipped bullish yet. On the flip side, spot markets had a small +228k inflow in the last 24h – could be some retail or smart money quietly picking up near these levels.
*Price action $NEAR
We're hugging the lows around 1.46-1.48. Immediate resistance at 1.4850, and if we break that with decent volume, it could signal a short-term reversal. Alternatively, a dip back to 1.4610 (yesterday's low) with RSI dropping below 35 might be a better entry for risk-reward.
*My plan (cautious long) $NEAR
- Entry: Either on a confirmed break above 1.4850, or dip to ~1.4610 if RSI oversold
- Stop-loss: 1.4300 if entering around 1.4740 – keeps it below recent lows
- First target: 1.5907 (Resistance)
- Stretch target: 1.6933 if the market turns risk-on
This is definitely a contrarian play – don't go all-in. The broader trend is still bearish, so size small and wait for confirmation. If we break down below 1.38 support, the whole idea falls apart.
Anyone else watching NEAR? Feeling like it's bottoming or still waiting for more downside? Share your thoughts! #Near #NEARUSDT #nearprotocol