yesterday I said I wanted to see real acceptance above $4.44 before treating $NEAR as a continuation setup
price moved above the level, but for me the confirmation still isn’t there yet
The reason is simple
we got a few hourly closes above $4.44, but after the first breakout NEAR slipped back below the level several times, and we still haven’t seen a completed 4H close proving that this area has really flipped into support
what’s interesting is that the fundamental side actually looks stronger
NEAR Intents TVL is still growing, routed volume and fees are rising, and $ZEC routing is still active
so the thesis itself is still intact
what I’m more cautious about now is positioning
OI has increased sharply over the past 24 hours and funding is positive. New longs are entering the move, while price still hasn’t cleanly turned the breakout level into support
that’s why I’m not chasing a full-size long here
what I want to see is:
A completed 4H acceptance above $4.44, followed by a hold of the $4.44–$4.40 area
if that happens, the continuation setup becomes much cleaner to me
for now:
fundamentals confirmed
price confirmation not yet
trading above a level and actually accepting that level are not the same thing
price moved above the level, but for me the confirmation still isn’t there yet
The reason is simple
we got a few hourly closes above $4.44, but after the first breakout NEAR slipped back below the level several times, and we still haven’t seen a completed 4H close proving that this area has really flipped into support
what’s interesting is that the fundamental side actually looks stronger
NEAR Intents TVL is still growing, routed volume and fees are rising, and $ZEC routing is still active
so the thesis itself is still intact
what I’m more cautious about now is positioning
OI has increased sharply over the past 24 hours and funding is positive. New longs are entering the move, while price still hasn’t cleanly turned the breakout level into support
that’s why I’m not chasing a full-size long here
what I want to see is:
A completed 4H acceptance above $4.44, followed by a hold of the $4.44–$4.40 area
if that happens, the continuation setup becomes much cleaner to me
for now:
fundamentals confirmed
price confirmation not yet
trading above a level and actually accepting that level are not the same thing
