NEAR/USDC - (Bullish) Near is progressing within strong bullish trend
Market & Ticker: Ethereum – NEAR/USDC
Date: 11/11/2024
Horizon / Timing: Tactical Mid-term / 1 to 3 months
Scenario:
NEAR is confirming a bullish dynamic after tested 3,50 previous tactical support. A larger rise is expected since the consolidation started in March 2024 is over.
As long as 4.45 remains a support valid in daily close we do expect an imminent further bullish reaction prior to a structural bullish trend to be developed opening 5.80 and 7.40 as targets.
Technical Key Elements:
- Lower part of the trading range reached at 3.50
- RSI indicators is > 50% triggering a bullish signal
- The Moving average are support (Range)
- Fibonacci key resistance area at 5,80 before 7,40 and support at 4.45
Trade Idea conclusion: Neutral
- Target 2: 7,40
- Target 1 : 5,80
- Strategic/Tactical Support: 4.45
- Target alternative: 3,50
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
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