Merchants Mid Week Analysis

For this new week we can clearly see that NEAR broke the range upwards and this is exactly what we needed to have a continuous bullish momentum. However we need to be careful and not get too excited too quickly. We still need to be careful but the price is on a higher trend right now and we can say that the price will be growing.

Looking at the weekly chart we see that the price broke above $ 2.40 and that we are turning this area into support. This is very healthy to have continuation on the price and get higher targets. We are a little bit above a big resistance level around $ 2.55. So getting above this zone will at least get us to the next congestion zone around $ 3.35. Obviously we need to stay careful and also look at what the rest of the market does. Above that the structure of the price on our weekly timeframe is set to give us a huge upwards price move similar to the one the week of February 8th. Let’s see what happens for our midweek analysis.

Best Regards,

Misinformed Block — Merchant Analyst