NEAR Protocol loses $5 support after $20M long squeeze
- —NEAR dropped 7.9% to $4.70, hitting a low of $4.60
- —Over $20M in longs liquidated; OI fell 12.3% to $1.4B
- —Spot netflow dropped to -$28M, the lowest since June
- —RSI formed a bearish crossover and fell to 68
Why it matters: Spot buyers are absorbing the dip, but continued derivatives outflows could push NEAR toward $4.4.
Source: AMBCrypto