NEAR/USDT Price Analysis: Preparing for a Bearish Move
The NEAR/USDT 4-hour chart reveals a clear bearish structure, with resistance and support levels well-defined. Below is the potential scenario for a continued downtrend:
Scenario: Continuation of the downtrend towards the $4.000 support level
• Key details:
• Price has reached a strong high in the $6.000 - $6.500 zone, where selling pressure dominates, signaling further downside potential.
• Break of Structure (BOS) in the bearish direction strengthens the likelihood of price retesting lower levels.
• The weak level at $4.500 may fail to hold, paving the way for a decline toward the strong demand zone at $4.000.
• Trading plan:
• Consider short positions if the price retests the $6.000 - $6.500 resistance zone and shows signs of rejection.
• Take Profit (TP): $4.500 and $4.000.
• Stop Loss (SL): Above $6.800 to limit risks in case of a bullish breakout.
Key levels to watch
• Resistance: $6.000 - $6.500 (major supply zone), $7.000 (strong high).
• Support: $4.500 (weak level) and $4.000 (key demand zone).
What’s your take? Will NEAR continue its decline toward $4.000, or will it rebound from lower levels? Share your analysis!
$NEAR #near