NEAR Protocol faces conflicting technical signals amid market volatility

NEAR Protocol is experiencing significant price volatility as technical indicators present conflicting signals for potential market movement.

Some technical analysis suggests the token may be nearing the end of a corrective phase. Indicators such as bullish MACD and RSI divergences near major support levels indicate potential exhaustion among sellers. If buyers regain control and the price breaks above $1.85, momentum could drive the price toward a $2.40 target.

Conversely, other market structures indicate a bearish bias. Multiple timeframes, including weekly, daily, and hourly charts, have reportedly turned bearish simultaneously. A double-top structure on the 1-hour timeframe and a bearish Change of Character (CHoCH) on the 4-hour chart suggest further downside. In this scenario, traders are watching for potential drops toward support levels at $1.599 and $1.546, provided the price remains below the $1.686 invalidation level.