đĽ NEAR Coinâs Critical Support Levels and Mid-Term Outlook: Technical Analysis on 24 April
NEAR token experiences a notable price action, finding critical support after a sharp decline on April 13.
Investors could consider buying opportunities within the $6.216 â $6.010 support zone as the token attempts to reverse its downward trend.
âAttention should remain on the $7.50 resistance barrier as overcoming this will be key to a bullish reversal,â experts suggest.
Delve into NEARâs technical analysis as it navigates through critical support and resistance levels, eyeing potential recovery zones.
âŚď¸ Current Market Dynamics and Critical Support
After a significant drop to a weekly support level of $4.62 on April 13, NEAR witnessed substantial buying, prompting a recovery attempt. Despite failing to reach the $4.62 level again, NEARâs price stability around higher support zones such as $6.216 to $6.010 indicates a consolidating market, offering potential buy setups for attentive investors.
âŚď¸ Analysis of NEARâs Mid-Term Technical Chart
The 12-hour chart of NEAR/USD showcases a pivotal moment on April 13, where the price touched down at the crucial weekly support of $4.62 before rebounding. This rebound highlights the strength of underlying buying interest. Investors are advised to monitor the $6.216 â $6.010 support range closely. A successful hold above this level could signal a trend reversal, making it an essential watchpoint for both short-term traders and long-term holders seeking to capitalize on NEARâs volatility.
âŚď¸ Strategic Buying Opportunities and Resistance Challenges
If NEARâs price dips into the mentioned support zone, long-term spot buying could be considered. However, a continued bearish trend may persist if the price cannot sustain daily closes above the $7.50 resistance. This area remains a significant hurdle, and overcoming it could pave the way towards higher targets of $8 and potentially $12, should the momentum shift favorably.