Univers OF Signals | Let's take a quick look at NEAR
Let's take a quick look at NEAR, currently with a market cap of $3.76 billion, ranked 32nd in coin market cap.
🔍 As you can see, after a downward leg that started following the break of $4.258 and continued down to $3.126, the market has entered a ranging phase.
✨ The support level at $3.126 is critical, and breaking this support could offer a good opportunity for a short position. The next support level would be at $2.690.
🔼 If the price stabilizes above the $3.585 area, it could undergo a deeper correction upwards. The important resistance zone right now is between the 0.5 and 0.618 Fibonacci levels, which I have marked on the chart.
📉 However, if the price aims to rise further and start an upward trend, it must overcome resistance at $4.258 and $4.870 to demonstrate that buyers have the upper hand.
📊 Volume in the range box is decreasing, which is normal; once this volume reaches its lowest, a breakout of the appropriate triggers will select the next direction for the price.
🥸 The RSI oscillator is also nearing the 30 area, and if it moves into the oversell zone simultaneously with the break of $3.126, it would serve as a strong confirmation for a short position momentum
🔍 As you can see, after a downward leg that started following the break of $4.258 and continued down to $3.126, the market has entered a ranging phase.
✨ The support level at $3.126 is critical, and breaking this support could offer a good opportunity for a short position. The next support level would be at $2.690.
🔼 If the price stabilizes above the $3.585 area, it could undergo a deeper correction upwards. The important resistance zone right now is between the 0.5 and 0.618 Fibonacci levels, which I have marked on the chart.
📉 However, if the price aims to rise further and start an upward trend, it must overcome resistance at $4.258 and $4.870 to demonstrate that buyers have the upper hand.
📊 Volume in the range box is decreasing, which is normal; once this volume reaches its lowest, a breakout of the appropriate triggers will select the next direction for the price.
🥸 The RSI oscillator is also nearing the 30 area, and if it moves into the oversell zone simultaneously with the break of $3.126, it would serve as a strong confirmation for a short position momentum
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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.
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.