ðĨ NEAR On Perfect Reversal Point: Bull Or Bear?
A while ago I made an analysis on NEAR and the bullish channel pattern it was trading in. Back then, I expected more bearish price action towards the channel's support area.
As of a few days, we're trading right on top of said support area. In a more bullish market, I'd wager that we'd likely see a bullish reversal from this point onward. However, I think that in the end NEAR will fall through the support anyhow. Bearish long-term target at $3,5.
Most likely scenario for now is that NEAR will see some (bullish) consolidation for the coming days. It's not going to see a new ATH soon, but $8 should be possible. Be careful since it will likely be a dead cat bounce.
As of a few days, we're trading right on top of said support area. In a more bullish market, I'd wager that we'd likely see a bullish reversal from this point onward. However, I think that in the end NEAR will fall through the support anyhow. Bearish long-term target at $3,5.
Most likely scenario for now is that NEAR will see some (bullish) consolidation for the coming days. It's not going to see a new ATH soon, but $8 should be possible. Be careful since it will likely be a dead cat bounce.
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