- NEAR macro structure prints giant double bottom.
- Bullish sentiments remain after 80% weekly pump.
- Will NEAR’s monthly 120% pump enter a dip phase before the next rally?
The crypto market is ecstatic over the fact that both Bitcoin (BTC) and Ethereum (ETH) have broken past crucial price targets. To highlight, the price of BTC is trading above $80,000 at $81,000, while the price of ETH is trading above $2,600. At the moment, a handful of altcoins continue to outperform and NEAR macro structure prints giant double bottom, keeping bullish sentiments alive even after an 80% weekly pump.
NEAR Macro Structure Prints Giant Double Bottom
According to CoinMarketCap analytics, the price of the popular altcoin is trading at $4.32, meaning that the asset is up by over 24.44% in the last 24 hours. This also means that over the last 7 days, the asset is up by about 80%, and marks a total surge of over 120% in the last 30 days. Truly, this has been a phenomenal pump for the price of NEAR. But, what happens next, a retracement during resistance, or a continued rally?
As we can see from the post above, this popular trader and analyst highlights how NEAR has flashed multiple bearish reversal signals over the past 2-3 weeks, but every single time, it has invalidated them and continued to pump. He then states that NEAR is the only chart on his watchlist that gives him real hope right now, as he believes that everything else looks weak, a sentiment not echoed by many other traders and holders.
At the moment, many assets besides NEAR continue to show bullish signals, although their price pumps have not been as significant as that of NEAR’s over the last month and week, respectively. This brings more discussion on the probability of NEAR’s price action for the coming days ahead. As we near the end of Q3, experts wonder if NEAR can maintain this impressive price rally.
As we can see from the post above, this reputed crypto analyst highlights how the NEAR macro structure looks like a giant double bottom patter, printed over the last 4 years. Is this the long-awaited altseason price pump phase that was expected last year? Will it finally play out this year? Most analysts expect the price of NEAR to pump all the way to its previous ATH target at $20, and possibly above.
Bullish Sentiments Remain After 80% Weekly Pump
Following NEAR’s impressive surge, one expert says that NEAR continues to be one of the easiest altcoins to hold in this bull market. He says that he accumulated the native asset of this great project between $1.20 – $1.50 and believes that the asset is breaking up in its current price range after a brief retest. He now expects a short-term top at the $4.25 price range which was a previous low.
