NEARing the bottom
Recently, I made an analysis on NEAR where it was trading within an ascending channel. It traded inside it for a short amount of time but eventually broke out of that channel and has been trading within the descending channel shown above.
I expect that NEAR will continue to trade inside this channel for the short-term but is approaching a short-term support zone at ~5.17. If it holds, NEAR can push toward the upper bound of the descending channel. If the support does not hold, NEAR can continue trading downward in the channel until its next major support zone at ~4.57.
As always, this is not financial advice and all information is for educational purposes only. Please feel free to leave any thoughts and comments below.
I expect that NEAR will continue to trade inside this channel for the short-term but is approaching a short-term support zone at ~5.17. If it holds, NEAR can push toward the upper bound of the descending channel. If the support does not hold, NEAR can continue trading downward in the channel until its next major support zone at ~4.57.
As always, this is not financial advice and all information is for educational purposes only. Please feel free to leave any thoughts and comments below.
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