Add as a preferred source on GoogleNEAR Tests $4.30-$4.60 Support as Derivatives Activity Cools
The token fell about 10% in 24 hours through 11 a.m. ET Oct. 29. Open interest stood at $807.46 million, and the funding rate was 0.003%.
NEAR Protocol (NEAR) fell about 10% in the 24 hours through 11 a.m. ET Oct. 29, putting its $4.30-$4.60 daily-chart zone under pressure as crypto markets weakened after Bitcoin (BTC) dropped below $80,000.
NEAR traded below its 20-day and 50-day exponential moving averages. Its open-interest reading of $807.46 million points to weaker derivatives participation and fewer leveraged positions.
The funding rate fell to 0.003% after several weeks of positive readings. That decline may reflect either reduced demand for leveraged long positions or increased bearish sentiment. The rate alone does not distinguish between those explanations.
The chart question is whether NEAR holds the $4.30-$4.60 area or breaks below it decisively. The derivatives measures do not answer that question on their own.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.