$NEAR / USDT ANALYSIS

1. Strong Support Zone:

• The price is currently trading within a strong support zone, highlighted in green on the chart. This zone has previously acted as a rebound point and has proven its strength in preventing further declines. Maintaining the price above this area suggests a potential upward reversal.

2. Price Pattern:

• Observing the previous price trend, there’s a formation of a “Higher Low” after a series of “Lower Highs” and “Lower Lows.” This shift in trend could be an early sign of the end of the downtrend and the beginning of a new upward move.

3. Harmonic Pattern:

• The harmonic pattern displayed on the chart may indicate a bullish reversal. If the price completes this pattern, we could see a strong upward move reaching the target resistance level at 8.956 USDT.

4. Stochastic Indicator:

• The stochastic indicator shows that the asset is in the “Oversold” territory, implying that the price might be overly depressed. This adds further support to the potential for a rebound.

5. Alternative Scenario:

• If the price fails to hold the current support zone and breaks downward, we might witness further declines. Therefore, it is crucial to closely monitor this area.

▫️Conclusion:

All indicators support the scenario of an upward move from the current levels, with expectations of targeting 8.956 USDT. It’s advisable to closely monitor daily price movements to confirm the continuation of support and positive signals before making any investment decisions.

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