🔴 $NEAR — THE BREAKDOWN IS CONFIRMED, ARE WE HEADING TOWARDS $3.50? 👀
NEAR is looking increasingly weak, and the higher-timeframe chart is giving us a reason to remain cautious.
After struggling around the $4.50–$4.60 region, sellers gradually took control. The important development is that price has now broken below the $3.90 key support zone. What previously acted as support could now become resistance.
Looking at the 1H chart, the bearish structure is still intact. Price is trading below the descending EMA, and recent attempts to recover towards $3.90–$3.93 have faced selling pressure. Buyers are struggling to establish a higher high.
Here's what I'm watching:
The $3.90–$3.93 zone is the immediate resistance area. If price attempts another recovery and gets rejected there, sellers could push NEAR towards $3.70 and eventually our projected target around $3.56.
On the higher-timeframe chart, the next major support is around $3.45. That's an important level to watch if bearish momentum continues.
🎯 Potential SHORT Setup
Entry reference: $3.838
Stop-Loss: $3.931
TP1: $3.70
TP2: $3.56
Major support: $3.45
My take: I'm leaning bearish while NEAR remains below $3.90–$3.93. However, I don't want to chase the breakdown. A retest and bearish rejection would offer a better opportunity.
A strong reclaim of $3.93 would weaken this bearish scenario, so risk management is essential.
The bulls had their chance. Now let's see whether sellers can take NEAR towards the next support! 📉
Follow for more multi-timeframe crypto analysis! 👇
$NEAR
NEAR is looking increasingly weak, and the higher-timeframe chart is giving us a reason to remain cautious.
After struggling around the $4.50–$4.60 region, sellers gradually took control. The important development is that price has now broken below the $3.90 key support zone. What previously acted as support could now become resistance.
Looking at the 1H chart, the bearish structure is still intact. Price is trading below the descending EMA, and recent attempts to recover towards $3.90–$3.93 have faced selling pressure. Buyers are struggling to establish a higher high.
Here's what I'm watching:
The $3.90–$3.93 zone is the immediate resistance area. If price attempts another recovery and gets rejected there, sellers could push NEAR towards $3.70 and eventually our projected target around $3.56.
On the higher-timeframe chart, the next major support is around $3.45. That's an important level to watch if bearish momentum continues.
🎯 Potential SHORT Setup
Entry reference: $3.838
Stop-Loss: $3.931
TP1: $3.70
TP2: $3.56
Major support: $3.45
My take: I'm leaning bearish while NEAR remains below $3.90–$3.93. However, I don't want to chase the breakdown. A retest and bearish rejection would offer a better opportunity.
A strong reclaim of $3.93 would weaken this bearish scenario, so risk management is essential.
The bulls had their chance. Now let's see whether sellers can take NEAR towards the next support! 📉
Follow for more multi-timeframe crypto analysis! 👇
$NEAR
