Lokesh Gupta
05-04-2024
#Near Protocol experienced a steady correction since mid-March, dropping from $9.00 to $6.00, marking a 33% decrease.
Amid broader market correction, NEAR coin price retraced to $6 psychological level, coinciding with 50-day EMA and above 50% FIB level, attracting buyers.
Pullback sustained above 50% retracement level, alongside a bullish chart pattern, hints at further growth potential.
On April 3rd, $NEAR witnessed a second reversal from $6.00, forming a Double Bottom and testing the Neckline of a Rounding Bottom pattern.
Formation of a bullish pennant pattern suggests possible recovery beyond $9.00 high.
$NEAR coin price nearing upper boundary of pennant pattern; breakout could lead to $10.00 milestone and then $12.50 target.
According To Coingabbar's analysis, A breakdown below $6.00 support may extend correction to $5.00.
KEY LEVELS :
RESISTANCE LEVEL : $9.00-$12.00
SUPPORT LEVEL : $4.50-$2.50
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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