NEAR's token fell 3.62% in a single trading session, and the charts aren't offering much comfort. The MACD indicator has turned completely dark, a bearish signal that suggests momentum has shifted. Sellers are currently outpacing buyers in live trading, and the next stop could be the $1.78 support level.
A Bearish Signal on the Charts
The moving average convergence divergence indicator, or MACD, is now flashing red. Traders describe it as 'completely dark' — meaning the short-term moving average has crossed decisively below the long-term one, and the histogram is shrinking. That's a classic sign that downward pressure is building.
Live order flow backs that up. Sellers are dominating the book right now, with more market orders hitting the ask side than the bid side. It's not a panic, but it's persistent. Every small bounce gets sold into.
The $1.78 Line in the Sand
All eyes are on $1.78. That's the level that's been holding the price up for weeks, and a retest looks imminent. Whether it's a quick wick or a sustained test, the outcome matters.
Analysts following the token call it 'make or break.' If $1.78 holds, buyers might step back in and defend the range. If it breaks, there's not much obvious support below until the next major level, which isn't clearly defined in the current price action.
The drop comes after a period of relative stability, so the move is catching attention. Volume is picking up as the price approaches the level, which suggests real conviction behind the selling.
What Happens Next
The immediate question is whether $1.78 holds. A close below that level could open the door to further losses, while a successful retest might bring buyers back. Traders are watching the hourly charts for any sign of a reversal — a hammer candle or a volume spike on the bid side.
For now, the path of least resistance is down. The MACD is dark, sellers are in control, and the support level is getting closer by the minute. The next few sessions will tell whether that line holds or gives way.
