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Rsi_divergence

NEAR Caught in a Strong UptrendNEAR is one of the newest cryptocurrencies on the market, and it is already making a name for itself after an almost 1,000% increase over the past three months. Fundamentals NEAR Protocol (NEAR) is a decentralized application platform created to help developers design their apps. The network runs on a Proof-of-Stake (PoS) consensus mechanism and aims to offer scalability and stable fees. NEAR is the native utility token that is used for: 1. Fees for processing transactions and storing data. 2. Running validator nodes on the network. 3. Governance votes to determine how network resources are allocated. Similar to BTC, NEAR has a controlled supply. Its current supply stands at just over 300,000. The supply is set to increase by 250,000 annually and reach a total of 1,250,000 after 5 years. Economics tells us that when supply increases, price decreases. Thus this is not a positive aspect at the moment, but it will be so in five years. NEAR on the Chart NEAR is currently in an uptrending channel. It has recently hit the upper limit of the channel and now even broken through, indicating that a short-term pullback is imminent. There is also a bearish RSI divergence indicating a pullback. The Relative Strength Index (RSI) is a momentum indicator that oscillates between overbought and oversold. When RSI has a value greater than 70, it is said to be overbought (indicating that it is a suitable place to sell), and when it is below 30, it is oversold (a suitable place to buy). A bearish RSI divergence occurs when the RSI is moving lower while the price is moving higher. This is precisely what happened between the 9th and 10th of March, thus further indicating a short-term reversal. Looking Ahead: NEAR appears to be in a solid uptrend for the past three months, mostly respecting the channel drawn on the chart. However, due to the price breaching the upper limit and the bearish RSI divergence, it may see a short-term reversal before pushing higher.
Long
by cryptohopper
MN BreakoutBULLISH TSXV:MN On the left side, we have a 1 Month view and 1 hour chart. On the right side, we have a 1 Month view and a 30 minute chart (zoom in) I see a couple things here indicating a bullish breakout about to happen: ✅ A nicely formed Cup and Handle ✅Red flags: Indicating a Bullish RSI divergence. We have lower lows on the chart and higher lows with RSI ✅ A red candle closing the previous day that doesn't appear that bears are strong here + Waiting for the candles to break the trendline as confirmation before taking a position Find good entries, know your exits, secure your profits - Pocketfeeder
TSXV:MN
by pocketfeeder
$LTC.X, Does Litecoin have more room to grow?Hi Community, I am following up from my previous idea and I am trying to make sense of supply & demand zones, and volume. I am not an expert in this at all, so I'd appreciate your thoughts. The 4H chart shows decreasing volume and an RSI in overbought zone. What I can't make my mind up is whether the volume is suggesting a slight decrease to retest the previous resistance at 186$, or if we have exhausted supply. In the latter case, we would be looking at a stronger retracement to the 180$ area, or even down to 165$. The 1H chart shows a bearish divergence on the RSI, and decreasing volume. However, the 1D chart shows a wonderful cup & handle formation with price just breaking the entry point that promises well in the medium-longer term. So, what do you think Litecoin will do next? And what are your thoughts on the supply & demand + volume considerations? Still learning here, so any constructive feedback and positive vibes are welcome. Thank you and Happy trading! ------------------------------------------------------ Needless to say, this is not financial advice!
by BitfulMind
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