NEAR Compressing at Key Fibonacci Level After 130% Run
- Price Movement Analysis: NEAR surged from $1.30 to $2.97 in late May, marking a nearly 130% increase, but is currently consolidating just below the 0.236 Fibonacci level at $2.47, indicating short-term market uncertainty.
- Technical Indicator Insights: The Relative Strength Index (RSI) peaked at 72.66 during the price surge and has since cooled to 65.10, remaining elevated but not excessively overbought, suggesting potential room for further upward movement.
- Trading Strategy Adjustments: Trader Michaël van de Poppe trimmed most of his NEAR position at €2.25 and plans to reinvest in the €1.60-1.75 range on June 1, reflecting confidence in a market rebound.
- Market Trend Forecast: If NEAR reclaims the $2.47 support level, it could test the $2.70-2.80 area, while a drop below this level would shift focus to the $2.16 0.382 Fibonacci support, indicating a potential change in market sentiment.
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Technical Analysis for BASED
Technical Sentiment Analysis for Based (BASED). As of , Based (BASED) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BASED stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BASED is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Based (BASED) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0317 | 0.0448 | 0.0569 | 0.07 | 0.0822 | 0.0953 | 0.107 |
| Fibonacci | 0.0448 | 0.0544 | 0.0604 | 0.07 | 0.0797 | 0.0856 | 0.0953 |
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