Near protocol to keep going down for the sort termGiven the bear market I expect the price of NEAR to keep going down before a rally.
As I see NEAR as a long term investment I will start to DCA
DCA 1: $4.87 (25%)
DCA 2: $4.50 (50%)
And a final hail marry at $1.62 (25%).
The bottom target is unlikely to happen, but it is the next level of resistance, (but we have to go far in the past to see it).
I do expect a rally eventually to take us back above $6 regardless of the targets we reach.
NEARPERP trade ideas
Near will continue to move up as we approach the conference.Traditionally build up to conferences are good for tokens, even in a bear market.
NEAR has a good conference coming up, with a lot of strong partners and some expected announcement, the build up to the conference should see some positive price action that should move us to $6
There is currently some resistance at $5.100 but we should break through it in the coming days as people take profit from earlier trades.
While this happens we could go sideway between $5.00 and $5.25
TP1: $6.00 (50%)
TP2: $7.00 (50%)
SL: initially $4.5 but moving up
NEARUSD ❕ price is under liquidityThe NEAR chart is generally similar to most other coins right now, but it has fewer arguments for growth.
The asset is under liquidity.
TD Sequential has formed a reversal signal downwards (1H TF)
Price has tested 50MA as resistance (30M TF)
I expect a continuation of the correction after fixing under the support level.
NEARUSD ❕ local bottomVolatility has declined.
Trading volumes decrease along with price declines = no interest in further declines.
NEAR is above liquidity.
TD Sequential has formed an up reversal signal on the 4H Timeframe.
Price is out of the oversold RSI zone on the 1H Timeframe.
I expect NEAR may change trend only after fixing above resistance level.
NEARUSD ❕ zone breakoutNEAR broke through the descending channel.
The drawdown try was quickly bought out.
The price is above liquidity.
NEAR is currently trying to break up the liquidity zone.
Main MAs are showing bullish sentiment (30m TF)
50MA break up 200MA (1H TF)
I expect price to test the resistance level and if it fixes above it will continue to bounce.
#NEAR the endThe question is not how long will last this BEAR Cycle...
BUT where the wave C is going to end?
and also what is the potential reaction rally to it?
1st level of interest: 90% level retracement at 2.45
This is also another 30% SELLOFF that matches with the total Market Cap
Next SUPPORT area (Another 30% drawdown to come)
Wave C projection at 1.382 (another level to look at for a BUYING Opportunity)
NEARUSD ❕ -85% from ATHNEAR has broken the downward channel and is now trading in the liquidity zone.
On the 1D Timeframe, price ignored the reversal signal on TD Sequantial.
RSI is oversold on the 1D Timeframe.
I expect that the price will test the liquidity zone and if it fixes in the range, it will give a local bounce.
NEARUSD ❕ triangleNEAR has formed a descending triangle.
During the movement in the triangle, trading volumes decreased.
Volumes and volatility continue to decline.
The price is above the liquidity zone.
I expect that after the exit of the triangle the price will test the resistance level, and after fixing above it will continue to grow.