Over $NEAR 24 hours, it's still down -2.00%, but the 1h candle closed above the previous high at 5.141. The current price is 5.144, right on the structural reversal line.
CHoCH↑: in a downtrend structure, a candle closing above the previous high suggests the downtrend may be over. The nearest resistance above is the previous low at 5.224, leaving just 1.56% of room—not much.
The public-chain sector is moving in tandem with the broader market, and this reversal has been fairly restrained so far. But the 24-hour candle is still red, suggesting buyers aren't rushing in to lift prices.
The structure has turned, but volume needs to back it up. Otherwise, it's just another fakeout. In this market, watching is more comfortable than performing.
CHoCH↑: in a downtrend structure, a candle closing above the previous high suggests the downtrend may be over. The nearest resistance above is the previous low at 5.224, leaving just 1.56% of room—not much.
The public-chain sector is moving in tandem with the broader market, and this reversal has been fairly restrained so far. But the 24-hour candle is still red, suggesting buyers aren't rushing in to lift prices.
The structure has turned, but volume needs to back it up. Otherwise, it's just another fakeout. In this market, watching is more comfortable than performing.