NEAR's 115% Rally Sparks Bullish Excitement, Eyes $3
115% Rally in Recent Weeks: NEAR token showcases an impressive 115% rally, highlighting strong bullish momentum.
Exceeding 50-Week EMA: The price trend surpasses the 50-week EMA, indicating a new breakout rally.
12% Jump in Two Days: NEAR token makes a significant 12% jump in just two days.
Potential Breakout to $3: If NEAR surpasses the $2.28 mark, it could potentially reach $3.
Rising Demand and Trading Volume: A substantial increase in trading volume and demand for NEAR token has been noted.
Bullish Market Recovery: The overall market recovery, along with Bitcoin's performance, is positively impacting NEAR's price.
Rounding Reversal Pattern: A potential rounding reversal forming with a neckline at $2.71 is observed.
Fibonacci Retracement Levels: NEAR price surpasses the 78.60% Fibonacci level, aiming for $2.93 or the 61.80% level.
Strong Uptrend in Daily Chart: Multiple bullish candles in the daily chart reinforce the uptrend.
Technical Indicators - EMA and RSI: The golden crossover in EMAs and weekly RSI spiking towards the overbought zone support the bullish trend.
Expectation for 2024: NEAR price shows potential for a strong start to 2024, with a high momentum reversal rally.
Risk of Retest at $2.28: A reversal from higher levels might lead to a retest of the $2.28 breakout level.
Exceeding 50-Week EMA: The price trend surpasses the 50-week EMA, indicating a new breakout rally.
12% Jump in Two Days: NEAR token makes a significant 12% jump in just two days.
Potential Breakout to $3: If NEAR surpasses the $2.28 mark, it could potentially reach $3.
Rising Demand and Trading Volume: A substantial increase in trading volume and demand for NEAR token has been noted.
Bullish Market Recovery: The overall market recovery, along with Bitcoin's performance, is positively impacting NEAR's price.
Rounding Reversal Pattern: A potential rounding reversal forming with a neckline at $2.71 is observed.
Fibonacci Retracement Levels: NEAR price surpasses the 78.60% Fibonacci level, aiming for $2.93 or the 61.80% level.
Strong Uptrend in Daily Chart: Multiple bullish candles in the daily chart reinforce the uptrend.
Technical Indicators - EMA and RSI: The golden crossover in EMAs and weekly RSI spiking towards the overbought zone support the bullish trend.
Expectation for 2024: NEAR price shows potential for a strong start to 2024, with a high momentum reversal rally.
Risk of Retest at $2.28: A reversal from higher levels might lead to a retest of the $2.28 breakout level.