NEAR has been trading in this ascending channel since the beginning of August, pretty much like every other altcoin. However, NEAR sometimes detaches from BTC's usual movements so it is one that can make us profit and hold its support when others don't.
From a TA perspective this ascending channel has held many times before and held once more today. As long as BTC keeps some stability and continues to stay within its short-term ascending channel without large moves downwards, NEAR can move toward the top of this channel for a ~15-17% profit.
Of course, it is very important to remember in every altcoin analysis, that BTC is still in an overall downward channel on the weekly timeframe. A move downward can cause major volatility in the alts.
As usual, this is not financial advice and all ideas are for education purposes only. Always happy to hear more and learn about different perspectives so please feel free to leave any comments and thoughts below!
From a TA perspective this ascending channel has held many times before and held once more today. As long as BTC keeps some stability and continues to stay within its short-term ascending channel without large moves downwards, NEAR can move toward the top of this channel for a ~15-17% profit.
Of course, it is very important to remember in every altcoin analysis, that BTC is still in an overall downward channel on the weekly timeframe. A move downward can cause major volatility in the alts.
As usual, this is not financial advice and all ideas are for education purposes only. Always happy to hear more and learn about different perspectives so please feel free to leave any comments and thoughts below!
Support levels are at:
- Short term: ~5.2 and 4.88
- Long term: ~4.53 and 3.9 and 3.6