Best of Community Submissions: The Bear, the Bull and the Crab
Hello fellow Merchants!
With the weekly and monthly trading contest for MoN expanding, I wanted to showcase some of the best submissions from the community. Each week we will be posting 3 submissions: one bull take, one bear take and one “crab” take (sideways movement). Hopefully this gives everyone a wide spectrum of views on what to look for and be well suited for all market conditions.
With the bullish momentum from the last few weeks, it was no surprise most submissions predicted the wave to continue. So this week there will be no bearish submission. NEAR made its way quickly past the $2.70-$2.75 resistance level before testing $3. The most common sentiment is NEAR to continue strong before halting at the next resistance levels at $3.40-$3.50.
Merchants Crab of the Week:
I will still look at btc first, temporarily btc has reached the sell zone, the price can move in the range of 44.5k–47.5k. So about NEAR, still moving in an uptrend channel, I expect the upcoming price zone to be at $3.12, but before that I think NEAR needs to create a good support before the price goes up. I chose the average price because I think I need to more data. Price prediction for August 17: $2.865
Merchants Bull of the Week:
In the daily frames we can see near respecting the range inside the upper aqua B-Band and yellow basis. Turning to the 3 day we can see the B-bands continue to tighten, suggesting increased chances for expansion of the Bbands. Turning to the 3 day time frame, The blue LSMA closed above level 50 suggesting upward pressure should remain at least until the close of the next 3 day candle. I believe we should see a clear shift into the price range of the orange Bband on the 3day, around $3.39.
If you want a chance to earn rewards for correct predictions, a chance to be showcased in Merchants highlights, or a place to learn how to do your own analysis, please join our Telegram Group and look out for the weekly contest submissions