NEAR / TetherUSLong
Near protocol "nears" the end of a bullish triangle pattern
NEAR protocol is the 22nd most valuable cryptocurrency valued at about $9 billion.
While the entire crypto market has been correcting, NEAR has been correcting too, but with a waveform that suggests a rally is about to resume.
From January 4-9, the correction was an equal wave pattern. These patterns are a clue about the market's future path as they generally are fully retraced. Since this equal wave pattern formed to the downside, then it suggests new highs above $17 aren't too far away.
If this decline is part of a larger triangle pattern, then a brief rally may occur to satsify wave ((d)). Wave ((d)) would need to hold below the wave ((b)) high.
After ((d)) carves, then wave ((e)) will be a brief dip that carries NEAR back to around $14.
From around $14, look forNEAR to rally to new highs above $18.
While the entire crypto market has been correcting, NEAR has been correcting too, but with a waveform that suggests a rally is about to resume.
From January 4-9, the correction was an equal wave pattern. These patterns are a clue about the market's future path as they generally are fully retraced. Since this equal wave pattern formed to the downside, then it suggests new highs above $17 aren't too far away.
If this decline is part of a larger triangle pattern, then a brief rally may occur to satsify wave ((d)). Wave ((d)) would need to hold below the wave ((b)) high.
After ((d)) carves, then wave ((e)) will be a brief dip that carries NEAR back to around $14.
From around $14, look for
NEAR to rally to new highs above $18.
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