NEAR: Loses Support, Eyes $3.50-$4 Bottom
CryptoMichNL noted that NEAR failed to hold the $4.30 support after a bounce to $4.50 and now anticipates a sweep of lows with a bottom likely between $3.50 and $4.00.
SourceAnalysis
NEAR lost the $4.30 support zone after rejecting immediately following its earlier rally to $4.50, according to @CryptoMichNL. The trader flagged the downward trend and positioned a potential low between $3.50 and $4.00 as the setup for the next rally.
Price sits at $4.09 on the 4h chart, pressing the lower Bollinger Band while the EMA50 at $4.43 and EMA200 at $4.56 cap upside as resistance. The MACD death cross at -0.08 confirms bearish momentum, yet RSI at 35.9 leaves room before oversold conditions; this confluence points to a likely sweep of the recent lows before any sustained recovery can develop.
Michaël van de Poppe
@CryptoMichNLMacro-Economics, Value Based Investing & Trading || Crypto & Bitcoin Enthusiast