Univers OF Signals | Let's take a quick look at NEARLet's take a quick look at NEAR, currently with a market cap of $3.76 billion, ranked 32nd in coin market cap.
🔍 As you can see, after a downward leg that started following the break of $4.258 and continued down to $3.126, the market has entered a ranging phase.
✨ The support level at $3.126 is critical, and breaking this support could offer a good opportunity for a short position. The next support level would be at $2.690.
🔼 If the price stabilizes above the $3.585 area, it could undergo a deeper correction upwards. The important resistance zone right now is between the 0.5 and 0.618 Fibonacci levels, which I have marked on the chart.
📉 However, if the price aims to rise further and start an upward trend, it must overcome resistance at $4.258 and $4.870 to demonstrate that buyers have the upper hand.
📊 Volume in the range box is decreasing, which is normal; once this volume reaches its lowest, a breakout of the appropriate triggers will select the next direction for the price.
🥸 The RSI oscillator is also nearing the 30 area, and if it moves into the oversell zone simultaneously with the break of $3.126, it would serve as a strong confirmation for a short position momentum
