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
โข Key details:
โข Price has reached a strong high in the $6.000 - $6.500 zone, where selling pressure dominates, signaling further downside potential.
โข Break of Structure (BOS) in the bearish direction strengthens the likelihood of price retesting lower levels.
โข The weak level at $4.500 may fail to hold, paving the way for a decline toward the strong demand zone at $4.000.
โข Trading plan:
โข Consider short positions if the price retests the $6.000 - $6.500 resistance zone and shows signs of rejection.
โข Take Profit (TP): $4.500 and $4.000.
โข Stop Loss (SL): Above $6.800 to limit risks in case of a bullish breakout.
Key levels to watch
โข Resistance: $6.000 - $6.500 (major supply zone), $7.000 (strong high).
โข Support: $4.500 (weak level) and $4.000 (key demand zone).
Whatโs your take? Will NEAR continue its decline toward $4.000, or will it rebound from lower levels? Share your analysis!
$NEAR #near