NEAR Breakdown Confirmed! More Blood Before the Reversal?Yello, Paradisers! Is #NEAR about to drop even lower, or is a major reversal brewing? Let’s break it down!
💎#NEARUSDT recently suffered a descending triangle breakdown, sending prices tumbling lower. Adding to the bearish pressure, we’ve also got a death cross formation, reinforcing the weakness in price action. Right now, before NEAR can find any long-term bottom, the probability of further downside remains high.
💎The bulls are currently struggling. Multiple resistance levels are blocking any attempts to gain momentum, with all EMAs currently sloping downward—not a good sign for any immediate recovery.
💎NEAR is expected to slowly bleed into the long lower wick of February 3rd. Strong support exists between $2.65 and $2.40, a key demand zone that could trigger a bullish reversal. But if sellers continue to dominate, they could overpower this level and drive prices down further toward $2.05 - $1.95. This is a major higher time frame support zone, where a long-term reversal could finally take shape.
💎For the bulls to negate this growing pressure, they must break above $4.50—a critical level reinforced by both horizontal and descending resistance. If the price secures a bullish breakout above this, NEAR could be in a prime position to rally over the next few months.
Paradisers, as always, patience and precision are key in this market. This isn’t a time for reckless trades—let the levels guide you, trade strategically, and stay disciplined.
MyCryptoParadise
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