NAER
Current Price: $2.561 (+1.23%)
24h High: $2.685 | 24h Low: $2.519
Technical Analysis:
Trend:
The price has been in a downtrend from $2.670, hitting a low at $2.523 before rebounding slightly.
The current recovery is weak, struggling around the $2.56 - $2.58 range.
Momentum Indicators:
Wm %R(14): -30.357, indicating it is near a neutral zone, slightly leaning towards an oversold condition.
Moving Averages:
MA(5) = 52,492,
MA(10) = 69,192,
Volume is decreasing, signaling weak buying pressure.
Support & Resistance Levels:
Support: $2.52 - $2.50
Resistance: $2.58 - $2.61
Prediction:
Short-Term:
If the price holds above $2.54, it may attempt a move toward $2.58 - $2.61.
A break below $2.52 could lead to further downside towards $2.50 - $2.48.
Long Position: Consider only if price breaks $2.61 with strong volume.
Short Position: If it fails to break $2.58, shorting down to $2.52 - $2.50 may be a good trade.
Final Verdict:
Bearish bias unless price reclaims $2.61+.
Short-term short position looks stronger unless BTC pumps the market.
#near