NEAR Protocol Price Plummets 15%, Bearish Reversal Candle Sparks Fears of Total 35% Correction

NEAR Protocol's recent price action has taken a sharp turn for the worse. After surging over 200% in the summer, the token is now down 15% from its local top at $5.58. This correction follows a classic pattern seen after parabolic moves, but the formation of a bearish reversal candle on the weekly or daily timeframe changes the picture entirely.

Sellers have regained control, and bullish momentum has been exhausted. On the market sentiment front, selling pressure appears to be intensifying, with volume during the declining phase outpacing that recorded during the most recent sessions of upside, a classic sign of distribution. Traders who accumulated at the lower end of the range are beginning to lock in profits, mechanically weighing on the price.

The next 48 to 72 hours will be decisive for NEAR's future direction. If it consolidates above $4.50 on declining volume, that could signal a simple pause before a recovery. But if selling pressure accelerates, the scenario of a total 35% correction from the top will become the base case for active traders.