Hello Merchants!
Get ready for a new ATH!
From the NEARUSDT 1W chart above, price is currently resting slightly higher than the $13.1 Support level.
Price for this week begins with testing the support for the third time consecutively. Testing that support level for three times consecutively indicates a probable breakout of price.
Two scenarios are possible:
(A) Price could bounce away from the support level of $13.1 towards the previous resistance at $16.5
OR
(B) Price would break the support and head for the next support at $12.5.
The second scenario could play out before the first one because the double top seen on the 1Day chart still has a bearish effect.
Whether price hits the next support at $12.5 or takes off to $16.5, we’re sure to get a new ATH in coming weeks
Get ready for a new ATH!
From the NEARUSDT 1W chart above, price is currently resting slightly higher than the $13.1 Support level.
Price for this week begins with testing the support for the third time consecutively. Testing that support level for three times consecutively indicates a probable breakout of price.
Two scenarios are possible:
(A) Price could bounce away from the support level of $13.1 towards the previous resistance at $16.5
OR
(B) Price would break the support and head for the next support at $12.5.
The second scenario could play out before the first one because the double top seen on the 1Day chart still has a bearish effect.
Whether price hits the next support at $12.5 or takes off to $16.5, we’re sure to get a new ATH in coming weeks
