Role of Bearish Candles
The price of NEAR has managed to break through a significant resistance observed at the last peak of the downward trend, entering an upward trend phase.
By reaching a specific area marked in green, not only has this level been breached, but it seems that the price is stabilizing at this new level.
The existing bearish candles, which are considered a pullback, will likely pave the way for the formation of stronger bullish patterns. If this scenario materializes, it is expected that the price will rise again, reach the orange resistance box, and possibly break through it.
By reaching a specific area marked in green, not only has this level been breached, but it seems that the price is stabilizing at this new level.
The existing bearish candles, which are considered a pullback, will likely pave the way for the formation of stronger bullish patterns. If this scenario materializes, it is expected that the price will rise again, reach the orange resistance box, and possibly break through it.
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