Based on the 1-hour (1H) candlestick chart of the NEAR/USDT pair, there are some notable points to predict the trend in the coming hours:
SMA (Moving Average):
SMA 7 (yellow) is crossing and is close to SMA 25 (purple) but still below SMA 99 (green). This may signal a short-term recovery, but the larger trend is still downward.
SMA 99 is still pointing downwards, indicating that the long-term trend remains bearish.
Candlestick Structure:
The most recent candle shows a closing price higher than the previous candles, indicating a temporary recovery.
The trading volume in the green candles is slightly increasing, which could be a sign of buying pressure returning.
Support and Resistance:
The price area around $5.1 - $5.2 could be a temporary resistance level, and the price needs to break through this zone to continue rising higher.
If the price cannot break through, it may return to a lower support area around $5.0.
Short-term Prediction:
If the price breaks through the resistance area of $5.2 with high volume, there is a possibility that the price will continue to rise in the coming hours.
If the price does not surpass this level, it may move sideways or decrease slightly before continuing the trend.
You need to analyze which coin to comment on, and we will analyze it based on the knowledge we have.
{spot}(DOGEUSDT)
