NEAR price after a gigantic recovery from the bottoms around $10 appears a little exhausted as it hovers within a minute range. The narrow consolidation is squeezing the resistance and support levels forming more or less a bullish flag structure. However, with a notable leg up the price is expected to test the ATH at the earliest.
But wait, there’s a catch! The price despite testing the ATH again may eventually fail to form a new one at the moment. The chances of the asset facing a strong rejection emerge which may pull back the price close to the support levels around $15. However, the trading volume is notably high and hence the asset may remain volatile for the next couple of days.
- The price rebounds firmly after smashing the lower support and maintains a significant uptrend to hover close to the ATH
- The price no doubt faced a rejection just below the ATH at around $20, yet the price refused to inculcate a bearish momentum that could have slashed the price towards the trend line
- However, after a brief consolidation, the price is expected to range high with significant bullish momentum that may avoid the price to skip the retest or the correction phase ahead
- After hovering in the discovery phase, the price may lose out some strength and after marking new highs above $22, it may eventually slide down below $20 soon
Therefore, it may be the right time to enter as said by one of the popular analysts. As the Near Protocol (NEAR) price is on an edge of a strong breakout. And hence the upcoming weekend may turn the tables for the asset.