NEAR Price Action Hinges on Bitcoin Ahead of Crucial Support Flip
NEAR's price remains steady at $2.31, with trader @CryptoMichNL outlining two possible scenarios for the cryptocurrency.
The first scenario involves NEAR reclaiming the $2.40 zone as a support level to target fresh highs, while the second possibility is that Bitcoin's influence could lead to a dip in NEAR's price, providing opportunities to buy near $2.05 before another rally.
Currently, the technical setup for NEAR shows a bearish structure due to the MACD death cross and neutral RSI at 44.64. The Bollinger bands are contained between $2.26 and $2.55, indicating that a clean flip above $2.40 could open up the upper band, while failure risks a quick test of the lower band and EMA200 at $2.03.
NEAR's price prediction models now rely on Bitcoin action this week, as trader @CryptoMichNL emphasizes the importance of the relationship between these two cryptocurrencies.