- NEAR holds attention as several analysts observe bullish tendencies.
- Altcoin NEAR may be dipping one final fall before a parabolic shift.
- NEAR could dip as low as the $1.2 price range before surging back up.
As we move towards a new month, many analysts continue to share positive and bullish indicators across multiple altcoin price charts. At the moment, it is not only the pioneer altcoin asset, Ethereum (ETH), that holds investor attention, but also other promising altcoins like NEAR and XRP. Specifically, NEAR holds attention as several analysts observe bullish tendencies on the altcoin’s price chart.
NEAR Holds Attention as Several Analysts Observe Bullish Tendencies
While the price of ETH continues to hold at the $1,900 price range, many experts notice how the asset is struggling to climb back up over the $2,000 price range. This has led to many experts calling for the final leg down leading to bear market bottom prices over the coming days. With BTC expected to fall as low as the $54,000 price range, altcoins will likely follow and set their own bottom targets.
Already altcoins like ETH and XRP seem to be preparing for the final fall and the analyst in the post above believes NEAR will move right alongside them. In detail, he marks how NEAR has finally reached the area we’ve been waiting for over the past few weeks. If one would zoom out to the Daily, 3D, and Weekly charts, they will notice something important, that the price of NEAR has already lost multiple key trend lines and support levels.
That tells us that the market structure has shifted, and that the asset is now trading at a critical point. Thus, the expert states that NEAR needs to reclaim the $1.65 – $1.70 price range, and if it fails to reclaim this, then the asset could head towards the $1.25 – $1.35 price range instead. If that area fails to attract buyers, perhaps even a retest to the weekly swing low around $0.84 is likely later in the cycle.
Several Altcoins Show Major Pump Potential
However, on the upside, he says the only moment to chase NEAR is if the asset reclaims the $1.85 – $1.90 price range. Even then, the real test sits around $2.10 – $2.20, where multiple higher-timeframe moving averages are waiting. One thing he encourages traders to do is to find encouragement in the Daily, 3D, and Weekly RSI, which are all becoming increasingly stretched. That tells us that NEAR is getting closer to an exhaustion point.
Having said that, he confirms that being oversold doesn’t mean a reversal will play out next. In conclusion, this is where patience matters most, as the next move from this region will likely determine whether NEAR starts building a higher-timeframe base or extends its correction into the next major demand zone. On the fundamental side, NEAR continues to build. The recent mainnet upgrade and ongoing ecosystem development are positive long-term catalysts, but in the short term, price action always comes first.
