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NEAR / TetherUS

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NEARUSDT trade ideas

Near. Daily analysis.Let's consider the price movement on a daily timeframe. The coin has broken out of a downtrend, pierced a sloping trendline, and approached the $2.8 resistance, forming something similar to an ascending triangle. The 200-day moving average also serves as a fairly strong resistance level. The idea is to look for LONG positions after the resistance is broken and the price is sustained above these levels. Why LONG? It's all quite simple, really. If we open the monthly chart, the price is currently within a range of favorable prices. The peak growth reached around $20. The price is currently at $2.59. There is potential. The deal is spot. We are watching the events unfold. Thank you for your attention.
by Apache_Trade
4
NEARUSDT is loading?NEARUSDT is currently testing the 0.382 Fibonacci level after a clear bullish impulse from a rounded bottom pattern, as previously indicated. The market is now testing the 4-hour support inside a falling wedge formation, which is a bearish reversal pattern that is characterized by a tightening of the price range over time. The falling wedge pattern typically signifies a loss of bearish momentum and an upcoming trend reversal, but new liquidity is needed for the market to continue its bullish movement. If the market does not receive the necessary liquidity, a bearish impulse could ensue, driving the price down to the 0.5 Fibonacci level. However, the scenario is invalidated if the price loses the 1.8$ level, which serves as a key support. On the other hand, if the price creates a clear breakout above the falling wedge pattern, according to Plancton’s rules, traders may consider opening a new long position, as this could signal a continuation of the bullish trend. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <= 1h structure. Follow the Shrimp 🦐
by InkyGrip
23