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🪙 Coin Name: #NEAR/USDT 2h
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On the 2-hour time frame, NEAR Protocol (NEAR) has been forming a descending triangle chart pattern, characterized by a series of lower highs converging towards a flat support line. This pattern typically suggests a potential bearish breakout. Additionally, a closer examination of the Relative Strength Index (RSI), a momentum oscillator, reveals bearish signals. The RSI indicates decreasing momentum, suggesting that the bearish trend is gaining strength.
Furthermore, NEAR has recently hit the resistance line of this descending triangle. When an asset encounters the resistance line in a descending triangle while the RSI is bearish, it generally signals a likely bearish breakout. Given these factors—the bearish signals from the RSI and the interaction with the resistance line—it appears that NEAR is set for a bearish move. This suggests that the price may break downwards, and traders should be prepared for potential declines.
Entry:7.903 Market Price
Signal Type: SHORT
Take Profit Targets:
🎯 $7.600
🎯 $7.400
🎯 $7.200
🔒 Leverage: 20x
⛔ Stop Loss at: $8.377
Don't miss out on this opportunity! 💸
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