Hello Merchants!
Here is another analysis of the Near asset. The chart is a 1D timeframe.
From the support line TD, it is obvious that the current price of $Near was the price a year ago.
This was the accumulation zone within that period and after price left this zone, this is the second time after it is coming back to it.
The fact that it came back here a year after, explains that it is a strong support and could still be a good accumulation zone.
Nonetheless, the channel line AB would be a nice indicator to tell when price changes course to an upturn as a return of the bulls.
Having some candlesticks form above the line AB would be a great news for the market.
Regardless of what we are anticipating, the bears are still in action and this can bring the price of $Near to a price of $2.5.
The bears could stay longer than the month of August 2022 if we do not have a correction above the channel line AB until the end of June.
Our only hope lies on the yellow RSI ribbon which at the moment is at the oversold region at 30 and should make a bounce off to some value above the 30% level.
This is No financial Advice but purely for education purpose.
Here is another analysis of the Near asset. The chart is a 1D timeframe.
From the support line TD, it is obvious that the current price of $Near was the price a year ago.
This was the accumulation zone within that period and after price left this zone, this is the second time after it is coming back to it.
The fact that it came back here a year after, explains that it is a strong support and could still be a good accumulation zone.
Nonetheless, the channel line AB would be a nice indicator to tell when price changes course to an upturn as a return of the bulls.
Having some candlesticks form above the line AB would be a great news for the market.
Regardless of what we are anticipating, the bears are still in action and this can bring the price of $Near to a price of $2.5.
The bears could stay longer than the month of August 2022 if we do not have a correction above the channel line AB until the end of June.
Our only hope lies on the yellow RSI ribbon which at the moment is at the oversold region at 30 and should make a bounce off to some value above the 30% level.
This is No financial Advice but purely for education purpose.
