It dropped 8.65% in a day, then suddenly surged 5.56% in an hour. $NEAR is now at 3.11.
This kind of price action is the most agonizing: holders have just been worn down by a day of steady declines, and then a sudden surge leaves them wondering whether it’s a rebound or a bull trap. People on the sidelines are even more conflicted: if they chase, they’re afraid of buying halfway up; if they don’t, they’re afraid it’ll really turn around and climb.
I’m inclined to wait and see for now, because a 5.56% one-hour surge is unlikely to hold for long in a market gripped by extreme fear. But if it gets above 3.43, the 24-hour high, I’ll change my mind immediately—that would mean buyers are really back.
Would you take a sudden one-hour surge like this as a rebound signal or a bull trap?
$NEAR
#NEAR #MarketAnalysis
This kind of price action is the most agonizing: holders have just been worn down by a day of steady declines, and then a sudden surge leaves them wondering whether it’s a rebound or a bull trap. People on the sidelines are even more conflicted: if they chase, they’re afraid of buying halfway up; if they don’t, they’re afraid it’ll really turn around and climb.
I’m inclined to wait and see for now, because a 5.56% one-hour surge is unlikely to hold for long in a market gripped by extreme fear. But if it gets above 3.43, the 24-hour high, I’ll change my mind immediately—that would mean buyers are really back.
Would you take a sudden one-hour surge like this as a rebound signal or a bull trap?
$NEAR
#NEAR #MarketAnalysis