🔍 Chart Overview:
NEAR has been trading inside a well-defined falling channel since mid-May. Price has consistently respected both the upper and lower trendlines, confirming this as a dominant structure.
🔵 Key Zones:
Support Zone (~$1.85–$1.95): Multiple bounce reactions (R1 in April & R2 in June) confirm this zone as a strong demand area.
Current Price Action: Price recently bounced off support and is now pressing against the upper channel boundary (~$2.25). A breakout here could be the first bullish signal in months.
📌 Indicators:
Stoch RSI: Curling upward, currently at 57.18 – suggesting bullish momentum is building.
Volume: Slight uptick in volume on the latest push – worth watching for confirmation.
🧠 Strategy Notes:
Bullish Scenario: Break and close above the descending resistance could lead to a run toward $2.60–$2.90 range.
Bearish Scenario: Rejection here would keep the downtrend intact, with price likely retesting the support zone again.
🛠️ Pattern in Play:
Descending Channel
Double Bottom Potential @ Support Zone
NEAR has been trading inside a well-defined falling channel since mid-May. Price has consistently respected both the upper and lower trendlines, confirming this as a dominant structure.
🔵 Key Zones:
Support Zone (~$1.85–$1.95): Multiple bounce reactions (R1 in April & R2 in June) confirm this zone as a strong demand area.
Current Price Action: Price recently bounced off support and is now pressing against the upper channel boundary (~$2.25). A breakout here could be the first bullish signal in months.
📌 Indicators:
Stoch RSI: Curling upward, currently at 57.18 – suggesting bullish momentum is building.
Volume: Slight uptick in volume on the latest push – worth watching for confirmation.
🧠 Strategy Notes:
Bullish Scenario: Break and close above the descending resistance could lead to a run toward $2.60–$2.90 range.
Bearish Scenario: Rejection here would keep the downtrend intact, with price likely retesting the support zone again.
🛠️ Pattern in Play:
Descending Channel
Double Bottom Potential @ Support Zone
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Try our strategy optimizer at quanttradingpro.com
Developing free strategies weekly stay tuned...
Join our discord discord.gg/2systG9frc
We provide education & tools.
Developing free strategies weekly stay tuned...
Join our discord discord.gg/2systG9frc
We provide education & tools.
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.