The failed attempts of U BLIZINI price to breach the $17.7 resistance triggered a minor pullback to the $15 mark. This psychological level aligned with 20-day EMA dynamic support provided a dip opportunity for long traders, and surged the altcoin by 10%. If buyers overcome the negative influence of the RSI indicator, the coin price would reclaim the $17.7 mark.
Ključne točke:
- The RSI slope displays negative divergence in the daily time frame chart
- The 20-day EMA gives pullback to support to NEAR price
- Unutardnevni obim trgovine u NEAR iznosi 1.09 milijardi dolara, što ukazuje na povećanje od 36%.
Izvor- Tradingview
The NEAR/USDT par gradually rises under the influence of the rounding bottom pattern. The recovery rally reached the $17.7 mark, its highest level in the past 11 weeks. However, the buyers struggle to overcome this resistance, indicating a strong supply region ahead.
Last weekend, the crypto market witnessed a significant sell-off which triggered a minor correction in NEAR price. The 15% retracement hit the rising 20-day EMA and stalled the sellers at $15 psychological support.
As a result, the NEAR price rebounded from the 20 EMA support with a morning star candle and continued its charge to All-Time High resistance at $20.6.
Furthermore, the rounding bottom pattern would encourage buyers to breach the ATH resistance($20.6).
Tehnički indikator
The rising 20-day EMA provides dynamic support to the NEAR rally. Until this support EMA is intact, the traders’ can maintain a strong bullish sentiment.
However, the RSI slope displays a lower low formation in contrast to trending price action. This bearish divergence indicates weakness to the bullish rally, which could trigger a longer price correction.
- Nivoi otpora - $17.5, $20.65
- Nivoi podrške - $13.3 i $10
odricanje
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O autoru
Source: https://coingape.com/markets/near-price-prediction-20-ema-reinforce-near-buyers-to-break-17-7/