NEARUSDT Breakout Watch Descending Triangle Reversal in Progress🧠 Pattern and Structure Analysis
The NEAR/USDT pair is currently displaying a long-term Descending Triangle pattern that has been developing for over 6 months. While descending triangles are typically bearish continuation patterns, a breakout to the upside often signals a strong trend reversal.
Descending resistance trendline: Multiple touchpoints confirming the structure.
Horizontal support zone: Strong base formed between $1.79 – $2.21.
The current price action shows a potential breakout above the descending resistance, indicating a possible shift in trend.
🚀 Bullish Scenario
If the breakout is confirmed (especially with high volume and daily close above the trendline), NEAR could rally toward the following resistance levels:
1. Target 1: $2.693 – minor resistance
2. Target 2: $3.021 – key psychological and technical level
3. Target 3: $3.568 – previous support/resistance flip
4. Target 4: $4.635 – major resistance zone
5. Extended Targets: $6.028 and $8.062 – historical highs
📌 Breakout confirmation requires a daily close above $2.25 with increased volume.
🐻 Bearish Scenario
If the breakout fails and the price gets rejected at the trendline:
Price may revisit the strong support zone around $1.79.
A breakdown below this support would open the door to deeper downside levels, possibly below $1.70 or even toward $1.50.
The bearish outlook would be invalidated if the price sustains above $2.30 and forms a higher-high structure.
🔍 Strategic Summary
Pattern: Descending Triangle (Potential Reversal)
Breakout Level: ~$2.25
Key Support: $1.79 – $2.21
Recommendation: Watch for a confirmed breakout with strong volume. Use a trailing stop strategy to lock in profits as targets are reached.
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