NEAR's golden pocket gets pocketed by sellers as $2.38 and $1.72 set the stage 📉

NEAR Protocol [NEAR] fell 9.07% in the past 24 hours, while daily trading volume rose 7.06%, according to market data cited in the report. Coinalyze figures showed Open Interest down 14.92% over the same period, with spot cumulative volume delta declining steadily in recent days and the funding rate flipping negative. The combination was characterized as short-term stress in the NEAR market, with expectations of continued price weakness.

On the one-week chart, analysts pointed to two bearish structural confirmations in 2025, when the price broke below a long-term swing low and extended the downtrend. The swing high at $3.34 was identified as the level bulls need to break to flip the long-term swing structure bullish. Buyers attempted to do so in May but were unable to clear the $3 resistance, and the $2.80 mark, which corresponds to the 78.6% Fibonacci retracement level, held firm after two weeks of failed attempts. The $2 psychological level was cited as a key supply zone to monitor going forward.

The four-hour chart showed the downtrend in a retracement phase, with a bounce toward $2.1 a week ago seen as the start of a pullback within the downtrend. Based on the timeframe's swing structure, the $2.24-$2.38 Fibonacci golden pocket was described as an ideal area for sellers to reassert control. Instead, the Bitcoin [BTC] rejection from just above $64k in recent days shifted broader market sentiment bearish and dragged NEAR from $2.07 to $1.88.

Technical indicators on the shorter timeframe were mixed. The Money Flow Index stood at a neutral 45, indicating neither bear nor bull dominance, while the Chaikin Money Flow and On-Balance Volume also pointed to a balanced market. The report noted that a move toward $2.38 would offer a better risk-to-reward setup for bearish positioning than entering at current prices, and that a drop below $1.72 would signal another bearish continuation requiring a revision of the golden pocket thesis.