Is a Massive Rebound on the Horizon?Yello, Paradisers! Are you ready to dive into the latest action on #NEARUSDT? The recent market movements have set the stage for a potential explosive breakout or a significant collapse. Let's break down the current situation and what it means for you.
💎After testing strong support levels, #NEAR is beginning to show signs of a strong rebound. The price has solidified its support at the $4.40 to $4.20 range. The initial reaction to these support levels has been strong, suggesting a potential recovery towards higher levels.
💎As the selling pressure wanes off, NEAR is showing promising momentum and looks to be positioning towards the initial resistance level of $5.10. Following this, the price is eyeing the stronger resistance zone between $5.90 and $6.20. The bullish momentum is likely to see bullish confirmation once the Relative Strength Index (RSI) breaks out of its descending resistance.
💎However, be cautious. If NEAR fails to break the RSI resistance, we might see a retest of the $4.40 - $4.20 support levels.
Paradisers, treat the market as a businessman, not as a gambler. Stay patient and disciplined for long-term success in your trading journey.
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