NEAR Protocol Price Forecast: Mounting bearish signals leave NEAR exposed to further losses

• $3.61 is NEAR Protocol’s approximate trading level on Tuesday. The token is holding firm after a test of critical support.
• More than $4 million left last week before institutional flows paused at net zero on Monday.
• Weak retail demand is signalled by a persistently negative Coinbase premium alongside net withdrawals from NEAR futures.

$3.50 remains below NEAR Protocol (NEAR) on Tuesday. The token is holding above that level after rebounding from $3.40 support the day before. Subdued institutional interest, steadily weakening retail demand, a negative Coinbase premium and futures outflows are weighing on the AI token. With several resistance levels capping the price, NEAR’s technical outlook remains bearish.

$4.38 Million in NEAR ETF Outflows as Futures Selling Persists

Two weeks of net withdrawals continue to weigh on NEAR ETFs. According to SoSoValue, Monday recorded zero net flows, following outflows of $4.38 million and $3.43 million in the preceding two weeks. Sustained outflows generally point to institutional withdrawals and waning confidence in the asset.

Retail demand is weakening in a similar fashion. On Tuesday, NEAR Open Interest (OI) stood at 230 million NEAR, compared with 318 million NEAR on 22 October, according to CoinGlass. The decline indicates a reduction in the notional value of active contracts. It also points to risk-off sentiment, consistent with increasing net outflows from futures.

Outflows from NEAR futures represented 17% of daily volume. By contrast, the spot market absorbed supply, registering inflows equivalent to nearly 10% of daily volume. 

US demand for the NEAR token is also subdued. A negative Coinbase premium of -0.097% means the token trades at a discount on the exchange, signalling limited interest among US investors. For those watching for a rebound, a positive jump in the Coinbase premium could signal a bullish trend reversal. Similar signals appeared on 4 September and in several smaller spikes in late September.

$3.40 Support in Focus: NEAR Technical Outlook

At press time on Tuesday, NEAR Protocol stands at $3.6130, with the near-term bias still bearish. The four-hour chart reinforces the downtrend: NEAR remains beneath both the 50-period Exponential Moving Average (EMA) at $3.8332 and the 200-period EMA at $4.2614.

A falling wedge frames NEAR’s technical setup. Its descending trendline sits at $3.7981, while the support trendline lies near $3.4000. Immediate horizontal support around $3.4030 strengthens that lower boundary. A confirmed break beneath this zone would leave the token vulnerable to a deeper correction, with subsequent support at $2.9780 and $2.7280.

Momentum indicators offer mixed signals. The Moving Average Convergence Divergence (MACD) line remains below, while the Relative Strength Index (RSI) is close to 43. Both suggest modest downward momentum.

On the upside, the first resistance lies around $3.7981, where a break of the downtrend line would occur. The 50-EMA at $3.8332 follows closely. Above these levels, the horizontal barrier at $3.9160 provides another resistance layer before the 200-EMA near $4.2614.

(The technical analysis of this story was written with the help of an AI tool. Know more.)