$NEAR is the number one trending coin right now, and today it finally cleared the level that capped all of September.
Live numbers:
Price: 2.87 USD
24h: +16%, range 2.42 to 2.90
Market cap: 3.74B USD, rank 28
24h volume: 864M USD
The level: on September 11 price spiked to 2.728 and got sold hard, closing the day at 2.364. That wick became the ceiling. For five sessions after it, price could not get back near it.
What changed: the lows kept rising underneath. 2.265 on September 13, then 2.297 on September 16. Buyers stepped in higher each time the market pulled back. Yesterday closed at 2.621, the best daily close in three weeks, and today price went straight through 2.728 to print 2.90.
What this means: a ceiling that gets rejected once and then taken out after a series of higher lows is a different animal from a one candle spike. The spike on September 11 had no base under it. This move does.
Context that keeps it honest: NEAR is still about 86% below its all time high from January 2022. This is a recovery inside a long downtrend, not a new cycle high, and it should be traded that way.
The line now is 2.728. A daily close above it turns the old ceiling into support. A close back under it and this was one more wick at the same level.
Does 2.728 flip to support this week?
Follow me for daily trending breakdowns.
#near #crypto #altcoin #defi #bitcoin
Live numbers:
Price: 2.87 USD
24h: +16%, range 2.42 to 2.90
Market cap: 3.74B USD, rank 28
24h volume: 864M USD
The level: on September 11 price spiked to 2.728 and got sold hard, closing the day at 2.364. That wick became the ceiling. For five sessions after it, price could not get back near it.
What changed: the lows kept rising underneath. 2.265 on September 13, then 2.297 on September 16. Buyers stepped in higher each time the market pulled back. Yesterday closed at 2.621, the best daily close in three weeks, and today price went straight through 2.728 to print 2.90.
What this means: a ceiling that gets rejected once and then taken out after a series of higher lows is a different animal from a one candle spike. The spike on September 11 had no base under it. This move does.
Context that keeps it honest: NEAR is still about 86% below its all time high from January 2022. This is a recovery inside a long downtrend, not a new cycle high, and it should be traded that way.
The line now is 2.728. A daily close above it turns the old ceiling into support. A close back under it and this was one more wick at the same level.
Does 2.728 flip to support this week?
Follow me for daily trending breakdowns.
#near #crypto #altcoin #defi #bitcoin
