NEAR · 1H · DOWNTREND
The structure here is clean and ugly — lower highs, lower lows from the 2.10 region all the way down to current price at 1.613. The most recent sequence is telling: price rallied from the 1.580 low up to around 1.780 in early August, printed a lower high, then rolled over hard and is now pressing back toward and through that prior swing low. I'm reading this as a textbook bearish continuation — every bounce has been sold, and there's no structural base forming. The macro backdrop from the live news doesn't change my read here; NEAR is a risk asset and the broader equity market nearting record highs hasn't stopped this from bleeding. My bias is short, and I'm not chasing — I'm waiting for price to either give me a clean rejection on a bounce into 1.660–1.680, or a confirmed close below 1.600 that opens the door to the next leg down.
SHORT SCENARIO
Confirmation
1.600
Closing below 1.600 on the 1H confirms bearish continuation — this level has acted as recent support and a clean close under it removes the last floor in this range.
Invalidation
1.700
Structure invalidated on a close above 1.700 — that would reclaim the prior breakdown zone and break the lower high sequence.
Target 1
1.540
Swing low zone visible in late July / early August.
Target 2
1.480
Next meaningful structural level below, extended downside target.
Risk/Reward
(1.600 - 1.540) / (1.700 - 1.600) = 0.6:1 at breakdown entry; improves significantly on a bounce entry into 1.660–1.680 rejection
Resistance: 1.680 / 1.780
Support: 1.600 / 1.540
This is not financial advice. Content is AI-generated.