NEAR remains in a broader downtrend, with price continuing to respect a descending trendline that has rejected multiple rallies.
Price recently bounced from a key support zone that aligns with previous demand and a strong volume profile area, suggesting buyers are attempting to defend this level.
The market is now testing for a potential change of character (CHoCH). A reclaim of the nearby resistance zone would signal weakening bearish momentum and could trigger a relief rally toward the descending trendline.
If support fails, the downtrend structure remains intact and price could rotate lower.
Price recently bounced from a key support zone that aligns with previous demand and a strong volume profile area, suggesting buyers are attempting to defend this level.
The market is now testing for a potential change of character (CHoCH). A reclaim of the nearby resistance zone would signal weakening bearish momentum and could trigger a relief rally toward the descending trendline.
If support fails, the downtrend structure remains intact and price could rotate lower.
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Check me out btdcrypto.com/links/
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.