NEAR Protocol Trades at $5.21 as Binance Futures Open Interest Falls 18%

NEAR Protocol (NEAR) traded at $5.21 on Binance at 4 a.m. ET (08:00 UTC) Oct. 11, while futures open interest fell 18.02% over 24 hours to $252.16 million.

NEAR was down 0.48% for the session. Binance spot trading showed a 24-hour range of $5.17 to $5.44.

The futures market showed no strong directional imbalance. The global long-short ratio stood at 1.0190, representing 50.5% long positions and 49.5% short positions. Binance’s top-trader cohort had a ratio of 1.0851, with 52.0% long and 48.0% short positions.

Selling pressure was stronger during the cited one-hour period. The taker buy-sell ratio was 0.8357, with 1,559,371 contracts sold compared with 1,303,192 bought. The eight-hour funding rate was 0.0041% at 3:59 a.m. ET (07:59 UTC).

Technical readings remained mixed. NEAR traded above its seven-day, 20-day, 50-day and 200-day simple moving averages, listed at $5.08, $4.93, $3.42 and $2.17, respectively. The MACD line and signal line were both 0.4675, leaving the histogram at 0.0000.

The cited technical levels placed immediate support at $5.11 and stronger support at $5.00. Immediate resistance stood at $5.38, followed by stronger resistance at $5.55.

Open interest measures the value of outstanding futures positions. A decline can reflect positions being closed or liquidated, but the available figures do not identify whether long positions, short positions or both accounted for the reduction.

The latest reading follows TokenPost’s earlier coverage of NEAR Protocol’s four-hour rise to $5.51 on Oct. 1.