A well-known cryptocurrency expert believes one Ethereum (ETH) competitor is displaying a “textbook” investment setting and is positive about this.
Cantering Clark, an anonymous cryptocurrency analyst, tells his 132,900 Twitter fans the Near Protocol (NEAR), a decentralized application (DApp) platform, which has fluctuated in a limited band in recent times.
“This NEAR setup is a textbook. Honestly, it doesn’t get much better. Three days of almost entirely inside value and range, i.e. Russian Doll setup. Open interest up on a negative basis. Break from balance now. At least 10-15% of the move coming.”
Russian doll arrangements are technical trends inside formations that give investors a lot of confidence in their bet.
NEAR’s required to maintain the present level, according to the analyst, indicates potential bullish investors are preparing for just a breakthrough.
“I am looking at what is possibly an acceptance outside of value for the last the days and seeing this in light of similar setups across the board playing out. It is contingent on the top of the local range holding as support.
I am tenacious about not incurring drawdowns or letting anything go against me in a strong bear trend, so if my setup criteria gets violated, I will gladly exit each time and reload as it replays.”
Cantering Clark also points out how NEAR has broken through its diagonal barrier and is currently ready to rise beyond $7.00.
“To whomever is starting to push late shorts out. Send NEAR to range highs like everything else as well.”
NEAR is now exchanging at $6.20, up 2.42 % over the previous 24 hours.
In addition, the expert outlines what he believes is the optimal timing for Bitcoin (BTC) enthusiasts to buy ahead of the next half occurrence in 2024. Cantering Clark’s forecast is centered around when Bitcoin recovered the bearish price pattern in 2014 and 2018.
“Hey, who is excited for the next Bitcoin halving?
If the past is a precedent, the beginning of 2023 would be where maximum opportunity is.”
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