Near protocol Bullish Run resumption
Hello Merchants!
The NEARUSDT 1Day chart above shows a continuous price rejection after hitting an ATH. This rejection is supposed to consolidate at the $8.5 level as estimated by the volume weighted average price over the data period.
For price to remain at the $8.5 level, this means point A is a lower low while point B will be a higher low hence the resumption of the bullish run.
Also, using the fib trend extension tool, we could see price going back to levels above $12 next week.
The NEARUSDT 1Day chart above shows a continuous price rejection after hitting an ATH. This rejection is supposed to consolidate at the $8.5 level as estimated by the volume weighted average price over the data period.
For price to remain at the $8.5 level, this means point A is a lower low while point B will be a higher low hence the resumption of the bullish run.
Also, using the fib trend extension tool, we could see price going back to levels above $12 next week.
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Related publications
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.