(NEAR) Where are you going to ? 📈 📉Hello everyone !
Today H₿ Capital is analyzing NEAR based on a « Weekly » chart 📈
What we can see :
- Since October 2020 until now, prices are progressing into a parallel channel. Right now Near is trading right on the upper line of this channel. It seems that 20$ is a strong resistance that Near must break to reach higher levels.
- By using the Trend based Fib extension, we can see that prices had difficulties breaking the 2.618 Fib Extension.
- We got a bearish divergence on the RSI
- The CHOP index tends to decrease which indicates a loss of strength
- Spreads are positive, it would be better if it became negative
What we can expect :
- If prices fail to break the upper line of the parallel channel (which coincides with the 2.618 trend based fib extension) then, we can expect Near to reach the following support levels :
Support levels :
1. 13$ —> 1.618 / 0,382 / Tenkan
2. 11$ —> Kijun / MM20
Best buying area :
1. 8,86$ to 5,64 $ —> 0,618 / 0,786
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