NEAR Could See 15% Gain Amid Bullish Market Prediction

Crypto analyst Ali Martinez predicts a potential 15% gain for NEAR, suggesting a market rebound despite current downtrends. His analysis highlights the formation of an inverse head-and-shoulders pattern indicating a bullish reversal.

Key Insights

The inverse head-and-shoulders pattern is visible on the NEAR 3-day chart.
Martinez identifies the neckline as a critical resistance level; a breakout above it could confirm a rally toward $2.40.
NEAR's RSI recently exited the oversold zone, supporting a potential price reversal.
Resistance expected at Fibonacci levels: $2.10 and $2.34.
If NEAR fails to break above the neckline, prices could drop to $1.96 and $1.82.

Current Market Status

NEAR trades at $2.09, up 4.34% over the past day. However, it shows significant losses of 16.12% weekly and 17.58% monthly. The overall market sentiment remains bearish, with analysts predicting a short-term downtrend to $2.07 in five days and $1.90 in a month. Long-term projections estimate a decline to $1.58 over the next three months.