We’re seeing how $NEAR approaches its first major weekly pivot decision at $4.70.
If we break above that zone, I’ll look for a macro expansion toward $6–$7.
Personally, I don’t think the price needs to break immediately.
NEAR has risen from the blue cycle acceptance channel to an extremely hot zone within just a few weeks.
That’s very similar to the recovery from the 2022 bear-market decline.
Price expanded out of the blue acceptance channel, consolidated below the weekly resistance, and rebalanced the move before eventually continuing higher.
Therefore, a reversal toward $3.30–$3.60 at some point would make complete sense.
It would clean up some late leverage, rebalance the liquidity created during this rally, and test whether buyers are willing to defend the move by stepping away from the lows.
That wouldn’t invalidate the macro setup. In fact, it would create a much cleaner zone to add to from a higher time-frame position.
So the roadmap is relatively simple.
Weekly acceptance above $4.70 opens the move toward $6–$7.
Rejection around these levels keeps $3.30–$3.60 as the main rebalancing zone below.
We’re already positioned from $3.60 and we’ve climbed almost 30% from the entry.
Now it’s just a matter of seeing whether the weekly resistance at $4.70 gets broken first, or whether the market gives another opportunity to add on the downside.
$NEAR
If we break above that zone, I’ll look for a macro expansion toward $6–$7.
Personally, I don’t think the price needs to break immediately.
NEAR has risen from the blue cycle acceptance channel to an extremely hot zone within just a few weeks.
That’s very similar to the recovery from the 2022 bear-market decline.
Price expanded out of the blue acceptance channel, consolidated below the weekly resistance, and rebalanced the move before eventually continuing higher.
Therefore, a reversal toward $3.30–$3.60 at some point would make complete sense.
It would clean up some late leverage, rebalance the liquidity created during this rally, and test whether buyers are willing to defend the move by stepping away from the lows.
That wouldn’t invalidate the macro setup. In fact, it would create a much cleaner zone to add to from a higher time-frame position.
So the roadmap is relatively simple.
Weekly acceptance above $4.70 opens the move toward $6–$7.
Rejection around these levels keeps $3.30–$3.60 as the main rebalancing zone below.
We’re already positioned from $3.60 and we’ve climbed almost 30% from the entry.
Now it’s just a matter of seeing whether the weekly resistance at $4.70 gets broken first, or whether the market gives another opportunity to add on the downside.
$NEAR
