NEARUSDT has formed a rounded bottom chart pattern, which is a bullish technical signal indicating a potential reversal in the price trend. This pattern is characterized by a gradual decline in the price followed by a rounded bottom formation, and then a gradual increase in the price.
Currently, on the 4-hour timeframe, the price of NEARUSDT is testing a resistance level, which is an important price point that the market has had trouble breaking through in the past. If the price manages to break above this resistance level, it could indicate a significant bullish momentum and signal a potential long position.
According to Plancton's Rules, a breakout above a resistance level is a strong indication of a potential long position. Therefore, if the price of NEARUSDT breaks above this resistance level, traders may consider opening a long position.
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Follow the Shrimp 🦐
Keep in mind.
Currently, on the 4-hour timeframe, the price of NEARUSDT is testing a resistance level, which is an important price point that the market has had trouble breaking through in the past. If the price manages to break above this resistance level, it could indicate a significant bullish momentum and signal a potential long position.
According to Plancton's Rules, a breakout above a resistance level is a strong indication of a potential long position. Therefore, if the price of NEARUSDT breaks above this resistance level, traders may consider opening a long position.
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Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
- ⚫️ Black structure -> <= 1h structure.
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