NEAR has been drifting steadily downward for almost three weeks.
It’s fallen from 4.72 to 4.0, down a little over 30%. Yesterday it plunged straight through 4.30, dropping 7% in 24 hours. This happened just as the vote on its emissions proposal (HSP-029, which would lower annual emissions from 2.5% to 1.6%) closed. It’s a good thing in the long run, but the market has completely shrugged it off.
My take: 4.30 used to be support, but now it’s resistance. Until the price gets back above it, I’d treat any move up as just a bounce. Below that, 3.90 is the recent low; if it breaks, psychologically, the next level to watch is around 3.5. Funding rates are still slightly positive, so the bulls haven’t given up—that’s something to be cautious about.
Do you think the positive news hasn’t been priced in, or is the drop really being driven by something else?
$NEAR $BNB
#加密货币 #Altcoins
Just my personal opinion, not advice
It’s fallen from 4.72 to 4.0, down a little over 30%. Yesterday it plunged straight through 4.30, dropping 7% in 24 hours. This happened just as the vote on its emissions proposal (HSP-029, which would lower annual emissions from 2.5% to 1.6%) closed. It’s a good thing in the long run, but the market has completely shrugged it off.
My take: 4.30 used to be support, but now it’s resistance. Until the price gets back above it, I’d treat any move up as just a bounce. Below that, 3.90 is the recent low; if it breaks, psychologically, the next level to watch is around 3.5. Funding rates are still slightly positive, so the bulls haven’t given up—that’s something to be cautious about.
Do you think the positive news hasn’t been priced in, or is the drop really being driven by something else?
$NEAR $BNB
#加密货币 #Altcoins
Just my personal opinion, not advice
