NEAR 8H – Descending Channel at Lower BoundaryNEAR / TetherUSBINANCE:NEARUSDTBKVIPNEAR on the 8H timeframe is currently trading around 2.182 after a sustained decline from the late June high near 2.250 through the entire descending channel structure, with price now pressing into the lower channel boundary near 1.560–1.600 following a sharp acceleration lower through late July and August that broke through every horizontal reference without a meaningful bounce. The chart shows a descending channel from the June 18 high near 2.250, with the upper trendline connecting that high through the July 16 recovery near 2.100 and the July 22 high near 2.050, while the lower trendline caught the June 27 low near 1.720 and has been declining steadily into the 1.560–1.580 area currently. Price made two recovery attempts inside the channel, with the July 4 bounce reaching 2.100 and the July 16 push reaching 2.100 before both were rejected cleanly by the descending upper trendline and rolled back lower. The subsequent decline from the July 22 high has been the sharpest and most sustained of the channel, dropping through 1.950, 1.870, 1.790, 1.710, 1.670, and 1.620 without a meaningful pause before reaching the current level near 1.595–1.622. A horizontal reference near 1.595–1.622 has emerged as the most recent pivot and is now being tested alongside the lower channel boundary. Price is now compressing directly at the lower channel boundary with no meaningful bounce produced yet, in contrast to the June 27 origin touch which produced an immediate sharp recovery back through the channel. Key Levels To Watch → 2.200–2.250 June high, major resistance above → 2.050–2.100 Prior recovery highs, upper channel resistance → 1.870–1.910 Mid-channel resistance zone → 1.750–1.790 Prior breakdown zone, resistance → 1.670–1.710 Broken support, now resistance → 1.595–1.622 Horizontal pivot and lower channel boundary, current test → Below 1.520 Channel breakdown, extended downside A hold at the lower channel boundary near 1.595–1.622 and a recovery back above 1.670–1.710 would keep the channel structure intact and open a move toward the mid-channel zone near 1.870–1.910 and the descending upper trendline above. A confirmed 8H close below the lower channel boundary near 1.595 would signal a full channel breakdown after a relentless decline, removing the only remaining structural support and opening downside toward 1.520 and below with no clear horizontal levels visible beneath. Sharpest decline inside the channel now at lower boundary with no bounce yet. Hold 1.595–1.622 → channel intact, recovery open toward 1.670–1.870. Lose 1.595 on confirmed close → channel breakdown, downside toward 1.520 and below. Bias bearish inside descending channel. Shift only on confirmed break above descending upper trendline.