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Today's analysis will focus on NEAR, a Layer 1 and AI crypto project with a market cap of $3.17 billion, ranking 31st on CoinMarketCap.
📅 Weekly Timeframe
In the weekly timeframe, as you can see, following an upward leg from $0.993 to $8.298, a range box formed over a year from $3.615 to $8.298. Recently, with the market's downturn, the price finally broke below this box's floor at $3.615.
✅ Currently, the price has pulled back to this area after breaking $3.615 and has dropped to $2.574, where it's currently forming a supportive green candle.
⚡️ The $2.574 area is robust, showing positive price response, and it remains to be seen what happens next. If this support breaks, the price could move towards lower areas like $1.830 and $0.993.
🔑 Conversely, if the price can sustain this support and move above $3.615, a significant upward momentum could enter the market, potentially driving the price at least up to $8.298. A break above $8.298 could see the next target at $16.839.
📊 Market volume has increased following the range break, which is natural as the price has finally moved out of a range, and increased volume has entered. Continuation of this volume increase could heighten the likelihood of breaking $2.574.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
Today's analysis will focus on NEAR, a Layer 1 and AI crypto project with a market cap of $3.17 billion, ranking 31st on CoinMarketCap.
📅 Weekly Timeframe
In the weekly timeframe, as you can see, following an upward leg from $0.993 to $8.298, a range box formed over a year from $3.615 to $8.298. Recently, with the market's downturn, the price finally broke below this box's floor at $3.615.
✅ Currently, the price has pulled back to this area after breaking $3.615 and has dropped to $2.574, where it's currently forming a supportive green candle.
⚡️ The $2.574 area is robust, showing positive price response, and it remains to be seen what happens next. If this support breaks, the price could move towards lower areas like $1.830 and $0.993.
🔑 Conversely, if the price can sustain this support and move above $3.615, a significant upward momentum could enter the market, potentially driving the price at least up to $8.298. A break above $8.298 could see the next target at $16.839.
📊 Market volume has increased following the range break, which is natural as the price has finally moved out of a range, and increased volume has entered. Continuation of this volume increase could heighten the likelihood of breaking $2.574.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
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💰 Join the Telegram Channel Now:
t.me/FireHoseReelCrypto
🏆 Best Crypto Exchange: promote.mexc.com/r/QFghw8yb
🤵 Business Contact: t.me/FireHoseReel
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
💥 Don’t Miss Out!
💰 Join the Telegram Channel Now:
t.me/FireHoseReelCrypto
🏆 Best Crypto Exchange: promote.mexc.com/r/QFghw8yb
🤵 Business Contact: t.me/FireHoseReel
💰 Join the Telegram Channel Now:
t.me/FireHoseReelCrypto
🏆 Best Crypto Exchange: promote.mexc.com/r/QFghw8yb
🤵 Business Contact: t.me/FireHoseReel
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.