🧠 Pattern and Structure Analysis
The NEAR/USDT pair is currently displaying a long-term Descending Triangle pattern that has been developing for over 6 months. While descending triangles are typically bearish continuation patterns, a breakout to the upside often signals a strong trend reversal.
Descending resistance trendline: Multiple touchpoints confirming the structure.
Horizontal support zone: Strong base formed between $1.79 – $2.21.
The current price action shows a potential breakout above the descending resistance, indicating a possible shift in trend.
🚀 Bullish Scenario
If the breakout is confirmed (especially with high volume and daily close above the trendline), NEAR could rally toward the following resistance levels:
1. Target 1: $2.693 – minor resistance
2. Target 2: $3.021 – key psychological and technical level
3. Target 3: $3.568 – previous support/resistance flip
4. Target 4: $4.635 – major resistance zone
5. Extended Targets: $6.028 and $8.062 – historical highs
📌 Breakout confirmation requires a daily close above $2.25 with increased volume.
🐻 Bearish Scenario
If the breakout fails and the price gets rejected at the trendline:
Price may revisit the strong support zone around $1.79.
A breakdown below this support would open the door to deeper downside levels, possibly below $1.70 or even toward $1.50.
The bearish outlook would be invalidated if the price sustains above $2.30 and forms a higher-high structure.
🔍 Strategic Summary
Pattern: Descending Triangle (Potential Reversal)
Breakout Level: ~$2.25
Key Support: $1.79 – $2.21
Recommendation: Watch for a confirmed breakout with strong volume. Use a trailing stop strategy to lock in profits as targets are reached.
#NEAR #NEARUSDT #CryptoBreakout #AltcoinSeason #DescendingTriangle #TechnicalAnalysis #CryptoTrading #BullishSetup #ReversalPattern #ChartPattern
The NEAR/USDT pair is currently displaying a long-term Descending Triangle pattern that has been developing for over 6 months. While descending triangles are typically bearish continuation patterns, a breakout to the upside often signals a strong trend reversal.
Descending resistance trendline: Multiple touchpoints confirming the structure.
Horizontal support zone: Strong base formed between $1.79 – $2.21.
The current price action shows a potential breakout above the descending resistance, indicating a possible shift in trend.
🚀 Bullish Scenario
If the breakout is confirmed (especially with high volume and daily close above the trendline), NEAR could rally toward the following resistance levels:
1. Target 1: $2.693 – minor resistance
2. Target 2: $3.021 – key psychological and technical level
3. Target 3: $3.568 – previous support/resistance flip
4. Target 4: $4.635 – major resistance zone
5. Extended Targets: $6.028 and $8.062 – historical highs
📌 Breakout confirmation requires a daily close above $2.25 with increased volume.
🐻 Bearish Scenario
If the breakout fails and the price gets rejected at the trendline:
Price may revisit the strong support zone around $1.79.
A breakdown below this support would open the door to deeper downside levels, possibly below $1.70 or even toward $1.50.
The bearish outlook would be invalidated if the price sustains above $2.30 and forms a higher-high structure.
🔍 Strategic Summary
Pattern: Descending Triangle (Potential Reversal)
Breakout Level: ~$2.25
Key Support: $1.79 – $2.21
Recommendation: Watch for a confirmed breakout with strong volume. Use a trailing stop strategy to lock in profits as targets are reached.
#NEAR #NEARUSDT #CryptoBreakout #AltcoinSeason #DescendingTriangle #TechnicalAnalysis #CryptoTrading #BullishSetup #ReversalPattern #ChartPattern
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✅ Twitter: twitter.com/crypto_nuclear
✅ Join Bybit : partner.bybit.com/b/nuclearvip
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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.