NEAR ProtocolLong
esistance from the upper border of a desce
Several factors are fueling the bullish sentiment around NEAR. Despite the recent price surge and positive on-chain signals, there are still risks to consider based on the price chart.
Since NEAR's price surged from the demand zone this September, it has encountered a significant resistance level at $4.401, which is hindering further gains. At the same time, the price is facing resistance from the upper border of a descending wedge pattern around $4.400.
Overcoming these multiple hurdles could validate the recent ascent seen over the past two weeks, boosting investor confidence. A change of character (ChoCh) will be confirmed if NEAR surpasses these critical levels, potentially skyrocketing long-term investor confidence.
If NEAR continues its upward trajectory, the next targets are $5.5 and $6.5. However, failure to display a ChoCh could lead to consolidation or a bearish trend.
Since NEAR's price surged from the demand zone this September, it has encountered a significant resistance level at $4.401, which is hindering further gains. At the same time, the price is facing resistance from the upper border of a descending wedge pattern around $4.400.
Overcoming these multiple hurdles could validate the recent ascent seen over the past two weeks, boosting investor confidence. A change of character (ChoCh) will be confirmed if NEAR surpasses these critical levels, potentially skyrocketing long-term investor confidence.
If NEAR continues its upward trajectory, the next targets are $5.5 and $6.5. However, failure to display a ChoCh could lead to consolidation or a bearish trend.
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