NEAR continued its rebound over the past 24 hours, rising to $2.08 during the session, a single-day increase of 11.67%. Unlike the previous decline, this rebound was accompanied by a simultaneous increase in trading volume, with daily trading volume increasing to $625 million, indicating that the buying was not driven by low liquidity, but rather by a return of new funds.
In the previous round of selling, NEAR briefly fell to around $1.85. After finding support in that area, the price climbed back above the $2.00 level, and market sentiment improved somewhat. However, the $2.20 area remains a short-term resistance level, and whether the price can continue to rise depends on whether the selling pressure in this area is absorbed.
Binance's long positions still hold the advantage.
Binance's top traders continue to favor long positions. Data shows that long positions account for 62.51% and short positions account for 37.49%, corresponding to a long-short ratio of 1.67.
This structure suggests that following the recent pullback, some large traders have not significantly reduced their long positions, indicating that the market still expects further price recovery. While concentrated long positions can sometimes amplify liquidation risks, the current position distribution is more optimistic than extremely crowded.
- Long positions account for 62.51%
- Short positions accounted for: 37.49%
- Long/Short Ratio: 1.67
The liquidation band is dense above $2.13 to $2.20.
The liquidation heatmap shows a significant concentration of leveraged positions above the current NEAR price. The $2.13 to $2.15 range is a particularly dense area of liquidity, located very close to the current price.
In the derivatives market, such areas tend to attract prices because a forced liquidation triggers a new order flow. Besides this area, there are also smaller liquidation zones around $2.18 to $2.20, making $2.20 a key level to watch for short-term traders.
Only after stabilizing above $2.20 can it potentially move into higher ranges.
From a daily chart perspective, NEAR's technical pattern has improved after holding the support level of $1.857. The Relative Strength Index (RSI) has also rebounded from nearly 40 to 51.01, indicating that selling pressure has eased and the market has moved out of a significantly oversold state.
However, NEAR is still in a recovery phase. If the price breaks through and holds above $2.20, upward liquidity may continue to be triggered, and the market may further test higher resistance levels. If this level fails to be broken, NEAR will likely continue to fluctuate within the current rebound range.
