Is the Rally Losing Momentum?
⚠️ $NEAR : DOWN 10% AFTER A 128% MONTH. DIP OR DISTRIBUTION?
NEAR is around $5.231, down 10.03% in 24h, with approximately $265M in 24h volume. Its latest reported 24h range is $4.89–$6.00.
📍 Conditional breakout-failure setup:
* Resistance: $6.00
* Support: $4.89
* Bearish confirmation: 1h close below $4.89 following a failed recovery.
* Invalidation: sustained reclaim of $6.00.
There is a potential longer-term catalyst: a NEAR governance proposal would gradually reduce maximum annual issuance from 2.5% to 1.6% over 24 months. The proposal is still marked as a draft, not an approved change.
After such a strong monthly run, is this healthy profit taking or the start of a deeper correction?
#CryptoTrading #Altcoins #BinanceSquare
⚠️ $NEAR : DOWN 10% AFTER A 128% MONTH. DIP OR DISTRIBUTION?
NEAR is around $5.231, down 10.03% in 24h, with approximately $265M in 24h volume. Its latest reported 24h range is $4.89–$6.00.
📍 Conditional breakout-failure setup:
* Resistance: $6.00
* Support: $4.89
* Bearish confirmation: 1h close below $4.89 following a failed recovery.
* Invalidation: sustained reclaim of $6.00.
There is a potential longer-term catalyst: a NEAR governance proposal would gradually reduce maximum annual issuance from 2.5% to 1.6% over 24 months. The proposal is still marked as a draft, not an approved change.
After such a strong monthly run, is this healthy profit taking or the start of a deeper correction?
#CryptoTrading #Altcoins #BinanceSquare