NEARUSD Trapped within the 1D MA50 and MA200.NEAR Protocol (NEARUSD) was rejected on its 1D MA200 (orange trend-line) on September 26 2024 and today it is testing its 1D MA50 (blue trend-line). Since the 1D MA200 rejection was also a rejection at the top of the 6-month Channel Down, holding the 1D MA50 may turn out to be the new Support if the price is to finally break this pattern.
The 1D RSI is already testing its own Higher Lows trend-line, so there are high chances of a rebound here on the 1D MA50. If not expect a bounce at the bottom of the (dotted) Channel Up. Either way, the Target is Resistance 1 at 6.5000.
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Nearusdsignals
NEARUSD This rally is far from over. +1300% rise on sight.Near Protocol (NEARUSD) is posting the strongest 1W candle since the previous Bull Cycle and has turned the 1W MA50 (blue trend-line) into Support. The 1W RSI is already overbought approaching the 80.00 level but there is still much room for this rally to grow long-term.
Historically, NEAR has seen two major multi-month rallies within the +1300% +1350% range. Measuring from the October Low, a new +1300% rise would push the price all the way to the top of the dominant Channel Down pattern. As a result, this is still a solid (even better confirmed) level to enter for the long-term and target 12.000.
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NEARUSD Attempting the first 1D MA200 test in 9 months!The Near Protocol (NEARUSD) is at the closest it has been to the 1D MA200 (orange trend-line) in more than 9 months as there hasn't been any contact since May 05 2022. Even in the event of contact or even marginal break-out, it is not the time to celebrate as within the Bear Cycle's Channel Down (since January 14 2022), there have been another two similar occasions that both started on a Higher Lows bottom but failed to break above the Resistance Zone formed by the previous Lower High of the bearish leg.
That is currently a little below the 0.382 Fibonacci retracement level. In order to extend our buying, we need to see a break above the top (Lower Highs trend-line) of the Channel Down, in which case we expect the price to fill the upper Fibonacci levels one by one.
Note that the 1D RSI invalidating a Bearish Divergence is a positive sign.
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NEARUSD Optimal buy level. Channel Up targeting $30.00.The Near Protocol (NEARUSD) is currently rebounding after making a new Higher Low on the 7-month Channel Up just below the 1D MA200 (orange trend-line). The true Support is the 1W MA50 (red trend-line), which provided a rebound last time it made contact with the price on February 24.
Since it firs started trading, NEARUSD has filled all Fibonacci extensions, with the latest being the 1.786. Naturally, the next fill should be Fib ext 2.0, which is exactly on 33.000. Technically, that would make a perfect Higher High on the Channel Up pattern.
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NEARUSD Buy SignalPattern: Channel Up on the 1D time-frame.
Signal: Buy as the price is supported on the Higher Lows trend-line (bottom) of the Channel Up and the 1D MA200 (orange trend-line) with the 1D RSI also at the bottom of its own Channel pattern.
Target: 30.000 (just below the 2.0 Fibonacci extension).
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