NEAR looks ripe for a Wave ii (green) correction on the 1D timeframe.
Ideally, the pullback would reach the 38.2% Fibonacci retracement, which aligns with the MA 50 support area. This would be a healthy correction within the broader bullish structure.
A deeper pullback toward the 50% Fibonacci level around $3.1 is also possible.
To keep the bullish Elliott Wave count intact, price should hold above the previous Wave 1 (red) high at $3.08.
Confirmation: $4.26
A break below this area would add confidence to the correction scenario.
Invalidation: $6.00
A breakout above this level would invalidate this particular count
NEARUSDT
Perp
4.893
-2.25%
