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NEARUSDT.P trade ideas

#NEAR/USDT Set to Plunge? Key Factors to Watch#NEAR/USDT situation, focusing on the potential retest levels due to the formation of a bearish shark pattern: #NEAR/USDT Analysis: Bearish Shark Pattern Indicates Potential Retest Levels #Bearish Shark Pattern The bearish shark pattern is a harmonic pattern that signals a potential reversal or correction in the price of an asset. This pattern consists of five points labeled as O, X, A, B, and C, and follows specific Fibonacci retracement and extension levels. For #NEAR/USDT, the formation of a bearish shark pattern suggests that the price is likely to face resistance and could be due for a retest at lower support levels. This pattern, combined with other technical indicators, can help identify potential price targets for the retest. ### Potential Retest Levels Given the bearish shark pattern, NEAR/USDT might retest certain key support levels: 1. **Scenario 1: Retest Around $8.50** - This level has previously acted as a significant support and resistance zone. If NEAR/USDT retraces, it is likely to find initial support around $8.50. If the price holds at this level, it could lead to a temporary bounce or consolidation. However, if the bearish momentum persists, the price may continue to decline further. 2. **Scenario 2: Retest Around $7.40** - If the $8.50 support level does not hold, the next critical support level to watch is around $7.40. This level has historical significance and could act as a stronger support. A retest at this level would be crucial in determining whether NEAR/USDT will stabilize or continue its downward trend. #Conclusion NEAR/USDT is currently showing signs of potential weakness with the formation of a bearish shark pattern. Traders should be prepared for possible retests at $8.50 and $7.40. Monitoring key technical indicators and market sentiment will be crucial for making informed trading decisions during this period.
by crypto_vulture_signals
NEAR: Bullish Momentum Building with Inverse H & S🚀💎 Paradisers, #NEAR has formed an inverse head and shoulders pattern, enhancing the probability of a bullish move. 💎 Price action has shown a Change of Character (CHoCH) and a Break of Structure (BOS) in lower timeframes. You can observe that #NEARUSDT has also bounced from the Fair Value Gap (FVG) zone, and currently, the price has shown an FVG, so we can expect a bounce from these levels. Be cautious here; there is also a bullish Order Block (OB) and a supportive trendline aiding the bulls, so considering stop losses here would be logical. 💎 For confirmation of the inverse head and shoulders, we need a breakout and a candle closing above the resistance zone. 💎 However, if the price shows a fall or panic selling and breaks down below the bullish OB and supportive trendline, it will invalidate the bullish signs. In that case, it would be better to wait for more favorable price action to develop.
Long
by MyCryptoParadise_Nathan
Breaking Down the Bullish Momentum: #NEAR/USDT's Recovery RallyIn the volatile world of cryptocurrency trading, #NEAR/USDT has recently found a lifeline in the form of trend line support. As it bounces from this crucial level, investors are closely watching its next moves. The chart suggests two possible scenarios: a retest at $7.43 or a potential climb towards $7.80. The current bounce from trend line support underscores the resilience of #NEAR/USDT amidst market fluctuations. Traders are weighing various factors, including market sentiment, volume dynamics, and broader cryptocurrency trends, to gauge the likelihood of each potential outcome. A retest at $7.43 would validate the strength of the support level and could serve as a springboard for further upward movement. Conversely, a push towards $7.80 would signal renewed bullish momentum and could attract more buying interest. As traders monitor these price levels, they remain vigilant for any signs of breakout or reversal. Risk management strategies are essential in navigating the uncertainty of cryptocurrency markets, ensuring traders are prepared for all eventualities.
Long
by crypto_vulture_signals
1
NEARUSDT Consolidations before the next leg up to $6.48 if NEAR maintains its momentum and breaks through the current resistance level, it could move towards the $6.48 price target based on the Fibonacci extension. RSI is around 70, which is on the higher end, indicating the market might be in overbought territory. However, in strong trends, the RSI can remain overbought for extended periods. Volume There appears to be increasing volume on up days, which could be indicative of strong buying interest.
Long
by dp0001