Near protocol about to Break out
Hello Merchants!!!
We are glad to bring you another price analysis and the current market situation this weekend.
Here’s the NEARUSDT 1D chart with some channel lines drawn along with some support and resistance level lines.
From the 24th of January 2022 to the 12th of February 2022, price has persistently tested the support trendline more than trice which has caused a breakdown in price just below the support line.
This may bring price to the $9.5 support again and If price tests the $9.5 support level persistently, we might have price falling below that level too.
The Goodnews is, we are in a very good demand zone and an opportunity to go bullish again.
Price will return to the $11.5 supply zone soon, to complete the ‘W’ chart pattern before the next price move.
NFA
Good luck trading
We are glad to bring you another price analysis and the current market situation this weekend.
Here’s the NEARUSDT 1D chart with some channel lines drawn along with some support and resistance level lines.
From the 24th of January 2022 to the 12th of February 2022, price has persistently tested the support trendline more than trice which has caused a breakdown in price just below the support line.
This may bring price to the $9.5 support again and If price tests the $9.5 support level persistently, we might have price falling below that level too.
The Goodnews is, we are in a very good demand zone and an opportunity to go bullish again.
Price will return to the $11.5 supply zone soon, to complete the ‘W’ chart pattern before the next price move.
NFA
Good luck trading
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.