NEARLong
NEAR Trading targets 2024-25
Quick T/A update for September 2024 - December 2025
Monthly chart of NEAR price from the beginning. Purple and blue fibs are what I call 'Origin Fibs', which I use for medium to long-term crypto trading. When close together they can create trading zones that I check for historic resistance and support. One of my principles is that zones need to become 'confirmed support zones' before a meaningful push to the higher zones becomes more likely to occur.
With crypto, hype and fear dramatically influences price, which is expressed in big peaks and sudden troughs. I therefore take a longer term view.
With NEAR, the $8-$9 zone is a confirmed support zone, which in my view increases the likelihood of this zone being overcome in the short term and reduces the likelihood of a confirmation move (i.e. price can shoot through it without requiring a re-touch for confirmation).
Trading Target Zone I ($11-$14) however, is a yet-unconfirmed support zone and therefore a different story. Selling in the high end within this zone, can result in a good buying opportunity later as the price meanders back down (potentially as low as $11, with an intra-month spike even below that) to confirm this zone as a support zone.
Trading Zone II is highly likely to spark a pull-back before it may be overcome later. I'm not speculating beyond this point.
Good luck NEAR hodlers and LT traders.
Monthly chart of NEAR price from the beginning. Purple and blue fibs are what I call 'Origin Fibs', which I use for medium to long-term crypto trading. When close together they can create trading zones that I check for historic resistance and support. One of my principles is that zones need to become 'confirmed support zones' before a meaningful push to the higher zones becomes more likely to occur.
With crypto, hype and fear dramatically influences price, which is expressed in big peaks and sudden troughs. I therefore take a longer term view.
With NEAR, the $8-$9 zone is a confirmed support zone, which in my view increases the likelihood of this zone being overcome in the short term and reduces the likelihood of a confirmation move (i.e. price can shoot through it without requiring a re-touch for confirmation).
Trading Target Zone I ($11-$14) however, is a yet-unconfirmed support zone and therefore a different story. Selling in the high end within this zone, can result in a good buying opportunity later as the price meanders back down (potentially as low as $11, with an intra-month spike even below that) to confirm this zone as a support zone.
Trading Zone II is highly likely to spark a pull-back before it may be overcome later. I'm not speculating beyond this point.
Good luck NEAR hodlers and LT traders.
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