Crypto
NEAR Protocol Prints Inverse H&S Breakout with $6.00 Target
The NEAR Protocol has completed an inverse head and shoulders pattern after a two-year formation period. The pattern's neckline at $3.00 has been broken, and it now acts as primary support for the asset.
The measured move from the inverse head and shoulders pattern projects a target of $6.00 to $6.50, which is a 22% to 33% move from the current price of around $4.90.
A sustained weekly close below the neckline at $3.00 would fully invalidate the bullish structure, opening up downside towards the $1.50 to $2.00 range.