Here’s a revised version of your analysis:
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My update for my $NEAR analysis:
As expected, the price dropped to around $7.50 before rebounding. Is the price now going up? Let’s take a deeper look at my technical analysis.
Starting with the 1-hour timeframe, the candle briefly dipped below the EMA7 before climbing back up. The EMA7 is now challenging the EMA25. As you can see, the candle has tried to pass the EMA25 multiple times but has been rejected. However, it also resists dropping further.
This is a crucial moment. If the EMA7 crosses the EMA25 and the candles gain support, there is a chance the price will rise. The RSI also shows a double bottom pattern, with the second bottom higher than the first. This is typically a bullish signal.
However, switching to the 4-hour timeframe, the candle is below the EMA99, and the EMA7 is closing the gap. This usually indicates a potential shift to a bearish trend.
Currently, there is no strong indication of where the price will go. It’s worth keeping an eye on this coin.
Please note that this is only technical analysis and may not be entirely accurate. Do your own research before making any financial decisions.
