Crypto analyst CryptoJobs3 has provided detailed technical analysis for Internet Computer (ICP) and Near Protocol (NEAR), offering insight into potential price movements. Both tokens face uncertain market conditions, with ICP showing signs of bearish momentum, while NEAR remains neutral with a potential for further consolidation.
ICP Faces Bearish Pressure and Instability
In an update shared on X, CryptoJobs3 outlined a bearish outlook for Internet Computer (ICP). According to the analyst, ICP is trading in a neutral zone on the daily time frame, though bearish tendencies are evident on lower time frames.
$ICP – update: Bearish at the moment Very neutral zone daily [large cloud zone]The price remain hearish on the lower TF. and should continue to move toward the lower key support zone: 7.960 – 7.880 $ It can be a bullish retest, but nothing is sure into this unstable… pic.twitter.com/q4mEL8BkxK
— Crypto_Jobs TA & FA (@CryptoJobs3) September 16, 2024
The analyst pointed out that ICP is hovering near a key support zone between $7.960 and $7.880. Despite the potential for a bullish retest, CryptoJobs3 expressed caution about the price stability in this volatile zone.
He highlighted the need for clear consolidation before considering any long positions, noting that failure to consolidate could push the price lower toward the SSA zone between $7.580 and $7.600.
In the short term, the analyst predicts that ICP could dip further, potentially reaching between $7.650 and $7.700. The trader recommends closely monitoring the price action and the $7.580 level, which could mark the final bottom if the price continues its downward trajectory.
NEAR Protocol Consolidation Expected to Continue
CryptoJobs3 also provided an update on NEAR, stating that the token’s price remains neutral with no clear bullish momentum. NEAR recently experienced a strong rejection at the $4.350 zone, which corresponds to the flat Kijun level.
$NEAR – update – [HTF views]: That was a perfect SWING setup given! (4.050 to 4.350$)The daily rejection on the flat kijun (4.350$ zone) was strong! The current price is neutral & the main trend remain bearish..The 3.880 – 3.900$ correspond to the 50% fib and… pic.twitter.com/IXIMHy7FAo
— Crypto_Jobs TA & FA (@CryptoJobs3) September 16, 2024
The token is currently trading in a range, with the key support zone between $3.880 and $3.900 being critical to maintaining stability. The analyst expects NEAR to consolidate within the $4.100 to $3.800 range for an extended period, with the potential for weeks or even months of sideways movement.
CryptoJobs3 advises caution when considering long positions, stating that buying pressure is lacking and a clear breakout above $4.150 would be needed to signal a more bullish trend.
Key Levels to Watch for NEAR Protocol
The update emphasized several important levels for NEAR, both for support and resistance. The lower support levels around $3.765 and $3.800 may come into play if further downside is seen.
Moreover, upper resistance levels around $4.100 and $4.800 will need to be overcome for a more substantial bullish reversal. The analyst suggests monitoring these levels closely as the consolidation phase progresses.
Celebrate Dogecoin and Make Big Gains with Doge2014!
Doge2014 raises 300K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +Show less –
Read also: Warning: Bitcoin Price Could Hit $80k Sooner Than You Think – Here’s How!
Monitoring Market Trends
For both ICP and NEAR, CryptoJobs3 stressed the importance of watching the daily price patterns and key levels to make informed trading decisions.
While ICP shows bearish tendencies, NEAR may continue to consolidate, presenting potential opportunities once a clear direction is established.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading. Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. Copy trading: allows users to copy the trades of leading traders, for free. User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
The post Internet Computer (ICP) Price Faces Bearish Pressure as NEAR Consolidates: Analyst Predicts Choppy Waters Ahead appeared first on CaptainAltcoin.
