The cryptocurrency market has lost more than $200 billion over the past few days.
Cryptocurrency markets have trended bearish in recent days, erasing over $200 billion in value as the total market capitalization fell from roughly $1.7 trillion to about $1.5 trillion.
In the last 24 hours alone, the market declined nearly 4%. Bitcoin has slipped below a key support region above $35,000 and is currently trading near $33,000, leaving it vulnerable to further downside in the near term.
Ether has also given up the $2,500 psychological level; additional losses could force ETH bulls to defend the $2,000 area to prevent deeper declines.
Among the top 20 cryptocurrencies by market capitalization, NEAR—the native token of the Near ecosystem—has been the top performer over the past 24 hours, gaining more than 7% during that period.
That short-term strength, however, appears unsupported by a clear catalyst. Given the prevailing bearish backdrop across global crypto markets, NEAR may struggle to sustain its rally unless broader sentiment improves.
Key levels to watch
On the NEAR/USDT 4-hour chart, the trend remains technically bearish despite the recent uptick. Technical oscillators indicate a gradual recovery in price action rather than a decisive trend reversal.
The MACD remains below the neutral line, reflecting recent downward momentum, while the 14-day RSI sits around 50, suggesting NEAR has exited oversold territory but has not yet entered overbought conditions.
At the time of writing, NEAR is trading near $11.07. If buying pressure persists, the first resistance zone to monitor is near $12.40. A breach of that level could push price toward the secondary resistance around $13.29, although that area may limit further upside.
Conversely, with the broader market still weak, NEAR’s gains could be reversed quickly. The primary support to watch is approximately $9.05; a break below that level would increase the risk of further declines.
Traders should monitor overall market sentiment, Bitcoin and Ether price action, and volume confirmation for clearer directional signals. Short-term moves remain sensitive to macro headlines and liquidity conditions that can drive swift market swings.