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Blizina analize cijena indicates a corrective pullback is on the cards. However, that could be a good entry point for the bulls. As it provides an attractive bargain buying opportunity.
On the daily chart, the NEAR price forms a ‘Cup & Handle’ formation, which is a bullish pattern. A retest of the $4.70 horizontal support level and if it is sustained by the buyers. Then, we can expect the continuation of the upside momentum toward the $6.0 psychological level.
As of publication time, NEAR/USD is exchanging hands at $4.94, down 4.97% for the day. According to CoinMarketCap the 24-hour trading volume declined more than 43% to $396,454,450. A decline in volume along with price, is a weakening sell side momentum.
NEAR price looks for upside extension
The price gave a breakout of bullish “Cup & Handle Pattern” with more than average volumes, indicating a bullish sentiment on daily basis. According to this pattern, the expected upmove price can go up to $6.0.
RSI (14) se trguje iznad 65, što ukazuje that the average gain is larger than the average loss, you can conclude that it’s in an uptrend if looking for a buy look for buying opportunities.
The nearest support the price can take is up to $4.57, whereas the nearest resistance the price can face is up to $5.25. There is a higher probability of the price breaking its resistance on higher levels.
Recently, the price gave a breakout from a level of $4.7, which was a strong resistance earlier, as it was not able to break that level since May 27.
On the four-hour time frame, a breakout of an inverted “Head & Shoulder Pattern” resulted in a single day move. As for now it is coming for a retest on the given breakout level. Thus, the recent NEAR price analysis indicates, that buying on the dips opportunity is the best option to play out within the near future.
S druge strane, probijanje ispod nivoa od 4.5 dolara moglo bi poništiti bikovske izglede. A cijena može biti ispod 4.1 dolara
Zaključak:
NEAR is bullish on all time frames. Above $5.25 closing on the hourly time frame, we can put a trade on the buy side.
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Source: https://coingape.com/markets/near-price-analysis-bulls-aims-for-20-gains-amid-rising-volumes/