🟢 $NEAR JUST SWEPT $3.65 — NOW THE WEEKLY CLOSE MATTERS
$NEAR pushed above the $3.65 area, but buyers couldn't hold the breakout and price was rejected back down.
For now, I wouldn't call this a confirmed SFP. It looks more like a potential liquidity sweep, and the weekly close should tell us whether this was a real breakout or just a rejection above resistance.
If the weekly candle closes back below $3.65, that level remains important resistance.
A pullback from here wouldn't necessarily be a bad thing. After the recent move, a reset could give the market room to build a stronger base.
The level I'm watching on a deeper pullback is around $2.49, which is the 0.618 Fibonacci area based on the current swing structure. I'd want to see price hold that zone and then spend some time consolidating rather than immediately trying to reclaim the highs.
If that happens, the next test is whether $NEAR can build a higher low and eventually reclaim $3.65 with a convincing close.
So right now, I'm watching the rejection rather than chasing it.
Short term: rejection risk.
Medium term: structure can remain constructive if the pullback holds and buyers return.
Not a recommendation to buy or sell $NEAR . Always do your own research.
$NEAR pushed above the $3.65 area, but buyers couldn't hold the breakout and price was rejected back down.
For now, I wouldn't call this a confirmed SFP. It looks more like a potential liquidity sweep, and the weekly close should tell us whether this was a real breakout or just a rejection above resistance.
If the weekly candle closes back below $3.65, that level remains important resistance.
A pullback from here wouldn't necessarily be a bad thing. After the recent move, a reset could give the market room to build a stronger base.
The level I'm watching on a deeper pullback is around $2.49, which is the 0.618 Fibonacci area based on the current swing structure. I'd want to see price hold that zone and then spend some time consolidating rather than immediately trying to reclaim the highs.
If that happens, the next test is whether $NEAR can build a higher low and eventually reclaim $3.65 with a convincing close.
So right now, I'm watching the rejection rather than chasing it.
Short term: rejection risk.
Medium term: structure can remain constructive if the pullback holds and buyers return.
Not a recommendation to buy or sell $NEAR . Always do your own research.
