NEAR Trading targets 2024-25Quick 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.
