#NEAR/USDT 4-Hour Chart Analysis: Key Resistance and Support Levels to Watch
The NEAR/USDT 4-hour chart currently shows the price trading around 4.93, just below a significant resistance level at 5.40. This resistance has been tested multiple times and could act as a substantial barrier to further gains. The immediate support level is around 4.50, and a break below this could lead to a further decline toward 4.00. The price is also trading near the 200-period Moving Average (MA) at 4.52, indicating a potential shift in sentiment. If the price remains above the 200-period MA, it suggests short-term bullishness, but failing to hold above this level may indicate a bearish outlook.
The Relative Strength Index (RSI) is at approximately 62, suggesting slightly bullish momentum without being overbought, providing room for further upside potential.
Meanwhile, the MACD (Moving Average Convergence Divergence) shows a positive histogram with the MACD line above the signal line, signaling a possible continuation of the bullish trend. Volume analysis indicates moderate activity as the price approaches the resistance level.
A breakout above 5.40 with increased volume could signal a stronger upward move toward the next resistance at 5.85-6.00. Conversely, if the price fails to break above 5.40, a pullback towards 4.50 or lower may occur. Traders should watch for a breakout above 5.40 for a potential long position and monitor for any bearish signals near resistance for a possible short opportunity.
Disclaimer:
This analysis is for informational purposes only and should not be considered financial advice. Trading cryptocurrencies involves significant risk, and you should conduct your own research before making any trading decisions. The author is not responsible for any financial losses incurred as a result of using this information. Past performance is not indicative of future results.
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