NEAR Pullback Puts a Possible 27% Drop in Focus, SUI Holds Near $0.87

Three Things to Know

• NEAR slid with AI-linked tokens after a Wall Street rout triggered heavy crypto liquidations.
• A fresh buy signal on NEAR's daily chart has so far failed to attract buyers.
• SUI sits just above a nearby floor near $0.83, a line buyers cannot afford to lose.

NEAR Protocol extended its slide this week as a sharp selloff in US stocks spilled into crypto. Leveraged long positions were wiped out, and tokens tied to artificial intelligence took some of the worst hits.

The timing stings for NEAR holders, who just voted to cut future token issuance. SUI has held steadier, but both charts still lean toward sellers. Traders now want to know whether nearby support can hold before macro pressure forces a deeper drop.

Stock Rout Overrides NEAR's Buy Signal and Supply Cut

Wall Street set the tone. The Nasdaq Composite fell 5.5% on Nov 5 as investors worried about AI spending and political uncertainty. The S&P 500 lost 4.3%. Bitcoin dropped more than 6% toward $75,000 in the same session.

The selling spread fast through leveraged crypto bets. Over $1B in positions were liquidated, mostly longs. AI-related tokens took some of the heaviest losses, and NEAR sits squarely in that group.

NEAR first slipped below $4 on Nov 3. It fell about 7% on Nov 6. Over 24 hours it traded between $3.63 and $4.05. The token peaked near $6 in October.

Analyst Ali Martinez flagged a TD Sequential buy signal on the daily chart. Buyers have not acted on it yet.

Holders also approved proposal HSP-029 on Nov 2 with roughly 99.9% support. It cuts maximum annual issuance from 2.5% to 1.6% over 24 months. That avoids about 11.8M new NEAR tokens. The change still needs Security Council review, a grace period and validator adoption. Some traders may have sold the news.

NEAR Trades Under $4.21 With $2.73 the Next Real Floor

NEAR Protocol (NEAR) daily price with the nearest support (green) and resistance (red). Source: TradingView

NEAR changed hands near $3.74 on Thursday. The token has lost about 13% over the past week and roughly 30% over the past month.

The short-term trend has broken. NEAR now sits below its 50-day moving average, an average of recent closing prices, which stands near $4.21. That line now acts as a ceiling. The 200-day average sits much lower, around $2.98. As long as price holds above it, the longer uptrend from the past year stays intact.

Momentum favors sellers. RSI, a 0 to 100 gauge of momentum, reads 40. That is weak, though still well short of the oversold zone below 30. Sellers have room to push further before the market looks stretched.

Other gauges agree. The MACD remains below its signal line, meaning momentum is still pointing down. Trend-strength readings show a downtrend forming, with sellers in control since October's run of lower highs and lower lows.

On the daily chart, the nearest resistance sits near $4.28. That level lines up with Martinez's first target from his buy signal. A close above it would put the next ceiling, near $4.81, back in view.

The downside is wider. The nearest firm support on the chart sits around $2.73, about 27% below the current price. If that floor gives way, the next level comes in near $2.21.

Analysts are watching the zone just under current prices. Michael van de Poppe said the range looks attractive for accumulation, though he prefers buying below $3.50. Giannis Andreou said buyers must defend the $3.60 to $3.80 area. A clean break under that band would leave little chart structure between NEAR and the lower floor.

SUI Clings to $0.83 Under Both Averages

Sui (SUI) daily price with the nearest support (green) and resistance (red). Source: TradingView

SUI traded near $0.87, a calmer week than NEAR's. The token slipped about 4% over seven days but has shed roughly 23% over the past month.

Its chart structure looks weaker, though. SUI sits below its 50-day average near $0.94. It also trades under its 200-day average near $0.97. Both lines now act as ceilings overhead. NEAR at least still holds its longer-term average, while SUI has lost that cushion.

RSI reads 41, close to NEAR's weak reading. Buyers lack conviction, but the coin is not yet oversold. Momentum is still pointing down, with the MACD under its signal line.

The trend itself is more mature. Trend-strength readings show a real downtrend led by sellers, while NEAR's is only taking shape. That means SUI's slide has already settled into a steady pattern.

Holders can take comfort in how close the floor sits. Support is only about 5% below the current price. Buyers have a clear line to defend.

A close under that level would change the picture. The next support comes in near $0.71, a much deeper drop. On the upside, resistance near $0.95 caps any bounce, and a break above it would open the way toward $1.06.

Which Way Do the Next 72 Hours Break?

Two setups dominate the coming sessions, and both hinge on the levels above.

• Bullish: A daily close above NEAR's nearest resistance would put Martinez's second target, the next ceiling, in play. SUI would need to clear its own first ceiling to aim for the higher one. The setup fails if either token slips back under Thursday's trading price.
• Bearish: A break below Andreou's defense band would leave NEAR exposed to the deeper floor. SUI losing its nearby support would open the path to its lower level. Reclaiming the 50-day average on either coin would cancel this view.

Macro Calls the Shots Until Sellers Tire

Both charts still favor sellers. NEAR's supply cut is a slow story that will take months to show up in issuance, and it cannot outweigh a stock market rout for now. Traders will watch Wall Street first.

The risk runs in one direction. Another equity slide or a fresh wave of forced liquidations could push both coins through support quickly.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.