The price lost the monthly support on 7.3$ and the daily support as well on 6.2$.
Now the price is going to create equal lows on the 4h timeframe on 5.6$ above the demand zone on 5.6$
How to approach it?
IF the price is going to have a breakdown from the 4h support and grab new liquidity, According to Plancton's strategy , we can set a nice order
A while ago I made an analysis on NEAR and the bullish channel pattern it was trading in. Back then, I expected more bearish price action towards the channel's support area.
As of a few days, we're trading right on top of said support area. In a more bullish market, I'd wager that we'd likely see a bullish reversal from this point onward. However, I think that...
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(NEARUST 1W chart)
Below 5.379, there is a possibility of entering the mid- to long-term investment area.
The 5.379-6.613 zone is a support zone, so it is...
NEARUSD (4H Timeframe)
The market is in a downtrend, and we are waiting for an entry signal to go SHORT below the 5.26 support level. Only the upward break of 7.63 would cancel the bearish scenario.
Stop loss: 7.63
Take profit 1: 3.86
Take profit 2: 2.38
Strategy: Bearish Breakout
I would like update the prediction done for NEAR on 11th May.
NEAR lost its wickless weekly trendline on that day (see the below snapshot). It is one of the last L1 coins that could not hold this strong support.
Retest of trendline seems to be rejected. I think the it will go down to see the next wickless weekly trendline in one or two weeks.
Near, after the 100mn in funding received. Near pumped and dumped due to macro instability. All in all near is set to have a balistic 2022-2023. My target for end 2023 on near is 60$+. This has all to rocket up. A buy at any level between 6.50 and bottom.
However, I also expect it to range between range numero 1 and 2. :)
Hold on we are nearly there :)
NEAR has more potential than Solana.
Infrastructure projects are now being created in the NEAR ecosystem. The active phase of the project's development has begun. My opinion is that we will see the price for 1 NEAR above $50 in the long run. NEAR is close to updating the ATH. The nearest strong resistance is around $20. NEAR has a strong team that is focused on...
NEAR has been outperforming the majority of the market as of late. However, the last week of bearish price action has even killed the upward momentum for NEAR.
Currently, I think there's much more downside potential for NEAR and crypto in general. I'm not looking for a long-entry in the short-term. However, I'm looking at several key areas for a bullish...
The price is creating a pennant between daily and weekly support after a big bearish impulse.
the price is testing a key level on the 6.5$
How to approach?
We could see a new false breakout from the pennant. The price could grab new liquidity and retest the 5.5$ and create a double bottom.
According to Plancton's strategy , we can set a nice order
NEAR continues to move in a downtrend. I expect the fall to continue to the support level.
SELL scenario: short to 8.37.
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
The price is close to the weekly support area and middle of the descending channel ✔️
expect to see more correction for the price ❌🧨
other important point located on the chart ✔️
Please, feel free to share your point of view, write it in the comments below, thanks 🐋
We can see $NEAR following the trendline and from this trendline it has bounced back. We know NEAR bounces from this zone around 6$ with massive volume.
On the upper side we have a resistance at around 7.6$.
A long is suggested and book some profit at resistance and have a Stoploss below trendline.