Why we bullish on NEAR?
NEAR is currently on strong uptrend, despite of recently bearish market sentiment (the crypto fear & greed index shows FEAR is ruling the market). NEAR's 20-day EMA above 20-week EMA reinforces this view.
The bullish hammer formed at the dynamic support level indicated that the bulls is taken over from the bears at this level.
Indicators used on our chart
- Multi timeframe EMA
- Crypto Fear & Greed Index
- RSI
NEAR is currently on strong uptrend, despite of recently bearish market sentiment (the crypto fear & greed index shows FEAR is ruling the market). NEAR's 20-day EMA above 20-week EMA reinforces this view.
The bullish hammer formed at the dynamic support level indicated that the bulls is taken over from the bears at this level.
Indicators used on our chart
- Multi timeframe EMA
- Crypto Fear & Greed Index
- RSI
Comment:
Potential Trade Idea 1: We are LONG NEAR at market price, stop loss place slightly below 20-day EMA ($14.60) and target take profit at resistance level ($20.5).