Suche
Mein Konto
NEAR price under pressure: Is the next sell-off imminent?
Latest crypto news: NEAR shows technical weakness, impending sell-off and market analysis - all important information here.
NEAR price under pressure: Is the next sell-off imminent?
The cryptocurrency market is facing challenging times, especially for the altcoin NEAR, which is currently showing divergent price developments. BTC Echo reports that NEAR exhibits persistent technical weaknesses on the parent time frame. In the last three trading days, the market was characterized by strong selling pressure, which further reinforced the bearish-dominated market structure. Attempts to overcome the 50 Exponential Moving Average (EMA) on the daily chart failed repeatedly.
A key support zone was marked in green and served as a short-term bottom. A sustained fall below this zone could lead to additional downside potential. In deeper price regions, there is an overarching support range with a high concentration of liquidity, which could potentially represent a target for a liquidity grab. This would cause the market to swing downwards to absorb stop orders.
Market development and correlation with Bitcoin
The development of NEAR shows a strong correlation with the price structure of Bitcoin. A dynamic reversal in BTC could lead to a recovery move in NEAR in the short term. However, a continuation of the downtrend remains likely unless support holds. On the 4-hour chart, NEAR shows an intact downward trend, which is characterized by a sequence of lower highs and lows.
The resistances are limited by the red zones in the descending trend channel. Technical resistance clusters are forming around the EMA50, EMA200 and EMA800, which could be crucial for future price development. As long as these resistances are not overcome, the short-term trend direction will remain negative. The MACD is currently confirming downward pressure with negative momentum, while the RSI could favor a potential countermove in oversold territory.
Risks and opportunities in trading
The current market shows a clear short overweight in the price range, with almost all long positions being squeezed out. However, an imbalance in the derivatives market could set the stage for an imminent reversal if buying interest and volume increase. The overall situation remains fragile, but offers opportunities, depending on whether the market can build up strength in the short term.
It is important for investors to be clear about risks and options before trading. Traders Union advises that the information provided is provided without any guarantee and should not be considered as investment advice. Users are responsible for their own financial decisions and should consult a financial advisor if necessary. Trading Forex, CFDs and cryptocurrencies involves high risks and is not suitable for everyone.