【$NEAR Signal】No Position | Weak Consolidation in Downtrend

$NEAR In a long-term downtrend, the price is undergoing weak consolidation, being suppressed below the EMA20 (0.9816), with each rebound met by selling pressure.

🎯Direction: No Position (NoPosition)

Market Analysis: The price has closed below the EMA20 on the 4H chart consecutively, confirming a medium-term bearish trend. The latest 4H candlestick shows only 47% buying volume, indicating weak buying interest. The depth imbalance is as high as 7.44%, but there is a clear accumulation of asks in the 0.961-0.970 range, forming a short-term resistance wall.

Hardcore Logic: Open interest (OI) remains stable, but the price is declining. Coupled with a negative funding rate (0.0100%) and low buying volume, this suggests that the current market is not a short squeeze but a natural pullback after the bulls' inability to sustain. RSI (39.66) is not oversold, but in a downtrend, a weak rebound to around 50 could present a new shorting opportunity.

Current Strategy: The trend is downward, but no high-probability rebound short or reversal long signals have appeared. Key support is at 0.933 (recent low). A break below could accelerate the decline. Key resistance is at EMA20 (0.9816) and the dense ask zone above. Until the price effectively holds above EMA20 and OI increases, remain cautious and observe.

Trade here 👇 $NEAR

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