universOfSignals | NEAR: Breaking Boundaries in Layer1 AI Crypto

👋 Welcome to universOfSignals !
Today's analysis will focus on NEAR, a Layer 1 and AI crypto project with a market cap of $3.17 billion, ranking 31st on CoinMarketCap.

📅 Daily Timeframe
In the daily timeframe, we can observe more detailed price movements.

💫 As seen, the main support at $3.615 has broken, and subsequently, a price box formed between $2.804 and $3.615. Coinciding with an RSI divergence, the floor at $2.804 broke, and the price dropped to $2.161.

🎲 Currently, the price is correcting back towards the $2.804 area. Market volume is rising, and the RSI divergence trigger has not yet been activated, indicating ongoing bearish momentum.

💥 If the RSI breaks the 50 area, the divergence could impact the market and eliminate the bearish momentum. This would be the first sign of a trend change, but the main ceiling at $3.615 must be broken to confirm a trend reversal.

📉 For short positions, breaking the $2.161 area is suitable, and if this area breaks, the price could drop to $1.682. For long positions, breaking $2.804 is a risky trigger, with the main trigger at $3.615 for a more solid position.

📝 Final Thoughts

This analysis reflects our opinions and is not financial advice.

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