$NEAR A week ago, it was still surging around 6.00. Now it’s at 4.97, down another 3.6% in 24 hours. Have all the positive Solana-related developments been priced in?
Here’s how I see it: On October 16, NEAR connected to Solana through Sunrise, making it possible to trade directly on Jupiter and Raydium. The price briefly surged above 5.42 that day. There was also news of an expansion to 17 MPC nodes and continued inflows into Bitwise’s NEAR ETF. But after the positive news came out, the price kept sliding. That suggests short-term “sell the news” action, rather than fresh buying.
Here are the key levels on the chart:
S1 4.76: The most recent 4-hour low on October 18. If it fails to hold, the price could easily test lower levels again.
S2 4.53: The starting point of the October 15 rebound, and a more important line of defense.
R1 5.42: The October 16 high, with plenty of holders waiting to sell above this level.
R2 6.00: The October 12 high, still a long way off for now.
Scenario 1: 4.76 holds, and the price chops around between 4.8 and 5.2 while waiting for the next catalyst.
Scenario 2: 4.76 breaks, and the price heads straight for 4.53.
I lean toward Scenario 1, but I’ll feel more confident only if the price moves above 5.20 on strong volume.
Do you think NEAR will retest 4.76 first, or bounce straight back to 5.2?
⚠️Just my personal ramblings—not investment advice.
#NEAR #山寨币轮动 #Solana ecosystem
$NEAR
Here’s how I see it: On October 16, NEAR connected to Solana through Sunrise, making it possible to trade directly on Jupiter and Raydium. The price briefly surged above 5.42 that day. There was also news of an expansion to 17 MPC nodes and continued inflows into Bitwise’s NEAR ETF. But after the positive news came out, the price kept sliding. That suggests short-term “sell the news” action, rather than fresh buying.
Here are the key levels on the chart:
S1 4.76: The most recent 4-hour low on October 18. If it fails to hold, the price could easily test lower levels again.
S2 4.53: The starting point of the October 15 rebound, and a more important line of defense.
R1 5.42: The October 16 high, with plenty of holders waiting to sell above this level.
R2 6.00: The October 12 high, still a long way off for now.
Scenario 1: 4.76 holds, and the price chops around between 4.8 and 5.2 while waiting for the next catalyst.
Scenario 2: 4.76 breaks, and the price heads straight for 4.53.
I lean toward Scenario 1, but I’ll feel more confident only if the price moves above 5.20 on strong volume.
Do you think NEAR will retest 4.76 first, or bounce straight back to 5.2?
⚠️Just my personal ramblings—not investment advice.
#NEAR #山寨币轮动 #Solana ecosystem
$NEAR