The price of NEAR/USDT is currently at $4.708, just below a significant resistance zone indicated by the 200-period Moving Average (MA), which stands at $4.445.
The MACD is showing signs of a potential upward momentum shift. The MACD line is close to crossing above the signal line, and the histogram bars are becoming less negative, indicating a slowing down of bearish momentum.
The Relative Strength Index (RSI) is around 40.90, which indicates the asset is currently in neutral to slightly oversold territory. This could suggest that the recent selling might be exhausted, and buyers may be starting to re-enter.
Bullish Scenario: If price moves above $4.75 and holds, confirming the breakout above both the MA and VWAP, a potential entry could be considered for a target move towards $5.5. Watch for confirmation from MACD crossover and increasing RSI.
Bearish Scenario: If the price fails to hold above $4.70 and starts showing bearish candle patterns, there is a potential retest of $4.0 to $4.3. This could be an opportunity for a bounce play if buying pressure reappears, or a short opportunity if bearish momentum accelerates.
Disclaimer:
This analysis is for informational purposes only and should not be considered financial advice. Market conditions are highly volatile, and traders should conduct their own research before making any trading decisions.
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