Near Protocol price analysis
Bitcoin saw another red candle with FED CPI report. To see what will come next, we should wait to see market reaction to FED report. It is not wise to enter any position at the moment as the market is extremely volatile at the moment.
As for Near Protocol, there seems to be a support being formed at around 3$. If this resistance is not broken, there are high chances of rise in the price. the first resistance ahead is 4$ an then 6$. If things cool down in terms of CPI index, inflation rate and energy crisis concerning the Ukraine-Russia war, there is a chance for a rebound. So look for theses important figures. Also, as you can see from the chart, a descending triangle is being formed (purple line). Also, the bullish divergence is a good sign of an uptrend.
It is best to wait for the trend to break the triangle up to enter a long position.
Remember that this is only personal opinion and not financial advice. Take your own risk and enter with caution.
I hope this information is useful
Happy trading
As for Near Protocol, there seems to be a support being formed at around 3$. If this resistance is not broken, there are high chances of rise in the price. the first resistance ahead is 4$ an then 6$. If things cool down in terms of CPI index, inflation rate and energy crisis concerning the Ukraine-Russia war, there is a chance for a rebound. So look for theses important figures. Also, as you can see from the chart, a descending triangle is being formed (purple line). Also, the bullish divergence is a good sign of an uptrend.
It is best to wait for the trend to break the triangle up to enter a long position.
Remember that this is only personal opinion and not financial advice. Take your own risk and enter with caution.
I hope this information is useful
Happy trading
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