NEAR has had a tremendous run recently making a new ATH and is now trading above all EMAs. On the daily timeframe, we can see that NEAR has been trading within this parallel ascending channel since July-Aug 2021 with a respectable recent attempt to break out of the channel.
In the short-term, it has failed to make a higher high and on shorter timeframes, it may begin to create a descending channel toward the 61.8 and 50 fibs. This may be a good entry zone to catch the next impulse provided the support holds. In the event that BTC takes a sharp fall, NEAR could drop to the 38.2 zone which could be a great entry point for a long-term hold, as overall, the trend is still bullish.
Please note I am not a financial advisor and this is not financial advice. All ideas are for educational purposes only :)
Please feel free to leave your comments and thoughts below!
In the short-term, it has failed to make a higher high and on shorter timeframes, it may begin to create a descending channel toward the 61.8 and 50 fibs. This may be a good entry zone to catch the next impulse provided the support holds. In the event that BTC takes a sharp fall, NEAR could drop to the 38.2 zone which could be a great entry point for a long-term hold, as overall, the trend is still bullish.
Please note I am not a financial advisor and this is not financial advice. All ideas are for educational purposes only :)
Please feel free to leave your comments and thoughts below!