NEAR's price failed to hold above the $2.20 resistance level, confirming a bearish trend that now threatens to push the token below the $2.06 pivot point. Technical indicators point to a potential slide to $1.80 within the next 30 days as selling pressure mounts.
Why the $2.20 rejection matters
The $2.20 mark had acted as a ceiling for weeks. NEAR briefly touched it last Wednesday but quickly reversed, losing more than 4% in a single session. That rejection, according to chart patterns, turned the short-term outlook decisively negative. With the pivot at $2.06 now broken, traders are watching for further downside acceleration.
Selling pressure builds
Volume data shows a steady climb in sell orders since the rejection. The token has posted lower highs and lower lows for five consecutive days. The relative strength index, a momentum gauge, has dipped below 40, signaling bearish conditions are strengthening. Unless buying volume picks up sharply, the path of least resistance remains downward.
Where the $1.80 target comes from
Analysts point to a measured move projection based on the height of the recent trading range. If NEAR fails to reclaim the $2.06 pivot within the next 48 hours, the next support level sits at $1.80. That target represents a roughly 13% drop from current levels. The 30-day window is based on the typical duration of similar breakdown patterns seen in previous months.
The immediate question is whether $2.06 will act as resistance again. If NEAR closes above it by Monday, the bearish case weakens. For now, the burden is on buyers to prove they can defend the pivot. No earnings report or governance vote is due to change sentiment; it's a straight technical battle.
