NEAR/USDC - (UPDATE) 4,00 Tactical support penetrated - Alternative scenario confirmed
Market & Ticker: Ethereum – NEAR/USDC
Date: 11/07/2024
Horizon / Timing: Tactical Mid-term / 1 to 3 months
Scenario:
NEAR dropped sharply after having failed to accelerate to the upside before penetrating 4,00 key tactical support in Daily close.
The next key level to focus on area at 2,30.
A new analysis will be published in case of new clear bullish set up.
Technical Key Elements:
- Lower part of the trading range reached at 4.00
- RSI indicators is showing divergence in oversold area
- The Moving average are resistance (Range)
- Fibonacci key resistance area at 5,40 and support at 4.00
Trade Idea conclusion: Neutral
- Target 2: 7,45
- Target 1 confirmation: 5,40
- Strategic/Tactical Support: 4.0
- Target alternative: 2,30
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
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