After reaching a local high of $8.981, NEAR corrected to $4.453, resulting in a decline of over 50%. Subsequently, the asset attempted to recover but failed to reach the previous local high and once again headed downward, retesting the $4.453 level and breaking below the 200-day moving average. Currently, the asset is trading near the newly formed resistance level and the 200-day moving average, with support provided by the volume profile.
Under current conditions and within the summer market context, a continuation of the downward movement can be expected with the aim of liquidity accumulation.
This situation appears quite attractive for opening a position in this asset and holding it until new significant sell signals emerge.
Under current conditions and within the summer market context, a continuation of the downward movement can be expected with the aim of liquidity accumulation.
This situation appears quite attractive for opening a position in this asset and holding it until new significant sell signals emerge.
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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.