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In this analysis, I’m going to review NEAR, one of the AI and Layer1 crypto projects, currently ranked 35 on CoinMarketCap with a market cap of 2.77 billion dollars.
📅 Daily Timeframe
On the daily chart, NEAR has formed a large ranging box between the 1.884 and 3.548 levels and is currently positioned in the lower half of that range.
✔️ After hitting the lower boundary, the price has formed a trigger around the 2.279 level and is now fluctuating below it.
✨ A breakout above this level could give us a long entry. However, the downside is that volume is decreasing and diverging from price. If this volume drop continues, the likelihood of the range breaking to the downside increases.
📊 If volume starts to rise, considering that the RSI is stabilizing above the 50 zone, the probability of a bullish scenario becomes much stronger.
💥 The main resistance above the current price is at 3.548, which I’ve marked as a zone. In my opinion, breaking this level would be the main trigger for a spot buy, and I personally plan to wait for this level to break before buying spot.
🔔 If the price gets rejected from the 2.279 level and bearish momentum enters the market, a break below 1.884 would be a strong short trigger and could signal the start of a new bearish leg and continuation of the previous downtrend.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
In this analysis, I’m going to review NEAR, one of the AI and Layer1 crypto projects, currently ranked 35 on CoinMarketCap with a market cap of 2.77 billion dollars.
📅 Daily Timeframe
On the daily chart, NEAR has formed a large ranging box between the 1.884 and 3.548 levels and is currently positioned in the lower half of that range.
✔️ After hitting the lower boundary, the price has formed a trigger around the 2.279 level and is now fluctuating below it.
✨ A breakout above this level could give us a long entry. However, the downside is that volume is decreasing and diverging from price. If this volume drop continues, the likelihood of the range breaking to the downside increases.
📊 If volume starts to rise, considering that the RSI is stabilizing above the 50 zone, the probability of a bullish scenario becomes much stronger.
💥 The main resistance above the current price is at 3.548, which I’ve marked as a zone. In my opinion, breaking this level would be the main trigger for a spot buy, and I personally plan to wait for this level to break before buying spot.
🔔 If the price gets rejected from the 2.279 level and bearish momentum enters the market, a break below 1.884 would be a strong short trigger and could signal the start of a new bearish leg and continuation of the previous downtrend.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
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🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
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.
💥 Don’t Miss Out!
🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
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.