Idea No. 1 for the spot
Near protocol, the price has been rising for 186 days and already 327 days in a sideways correction. The correction phase is in the form of ABC waves, but it is very tedious.
If we consider the Elliott waves, there is nothing except the first and the current second, we can suggest the third one, but then we are waiting for a bull of incredible size.
What at the moment gives us the idea to buy?
- touching the support zone
- RSI is almost oversold.
- A future possible bullish MACD crossover.
- ADX is about to show a trend, but the decline has already happened.
What about the fundamentals ?
Basically strong asset, in top 30.
MС 4.44B, good volume and liquidity.
It is clear that when the asset was 20$, tokens were 2 times less and capitalization was 12B, but 3 years passed and volumes increased everywhere, liquidity became more, cellular ETF and retail funds broke into our chat + in addition the US president launched his meme.
So seeing a $15 price with MС 18B in the next quarter or two is not hard to see. If we talk about ATN update, it's a breakdown of MС 25B and a shift to about 9th place of the top, this is quite realistic, but still more likely there will be an extensive liquidity inflow into other projects as well.
Consider your risks
DYOR
Translated with DeepL.com (free version)
If we consider the Elliott waves, there is nothing except the first and the current second, we can suggest the third one, but then we are waiting for a bull of incredible size.
What at the moment gives us the idea to buy?
- touching the support zone
- RSI is almost oversold.
- A future possible bullish MACD crossover.
- ADX is about to show a trend, but the decline has already happened.
What about the fundamentals ?
Basically strong asset, in top 30.
MС 4.44B, good volume and liquidity.
It is clear that when the asset was 20$, tokens were 2 times less and capitalization was 12B, but 3 years passed and volumes increased everywhere, liquidity became more, cellular ETF and retail funds broke into our chat + in addition the US president launched his meme.
So seeing a $15 price with MС 18B in the next quarter or two is not hard to see. If we talk about ATN update, it's a breakdown of MС 25B and a shift to about 9th place of the top, this is quite realistic, but still more likely there will be an extensive liquidity inflow into other projects as well.
Consider your risks
DYOR
Translated with DeepL.com (free version)
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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.
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.