September Week 1 Community Highlights: Bear, Bull and Crab
Hello fellow Merchants!
We are kicking off September contest on high note, with ETH breaking 4k momentarily, SOL continuing to go ballistic crossing $140 and NEAR ready to retest $6.50 levels and hopefully all time highs soon.
NEAR ended August with a modest pull back and price consolidating around $5.30 where it traded for a few days to begin September before surging to reach highs of $6.85 on September 3rd. Community and our analyst sentiment this week is back on the bull train with eyes on the important $6.50 level. Currently NEAR has established a strong floor with its recently consolidation in the $5.30-$5.50 range but has been rejected multiple times now above $6.50. Most community analysis has NEAR settling down between $5.60-$5.95 zone or in the $6.20-$6.50 zone.
Checkout a few of the best submissions highlights!
Merchants “Bear” of the week:
NEAR has been on a downwards trend since August 21st and has failed to hold above $5.50 level consistently. That coupled with the 20 MA momentum running out could mean a pullback to $4.70 before moving upwards again.
- andresdavinf
Merchants Crab of the Week:
From my previous analysis, a pullback has occurred where the price movement has broken off the descending triangle and retested the $4.60 support zone prior to the bounced after being oversold on the RSI indicator.
Since then, we have been consolidating and trading sideways within $5 — $5.8 range and holding strongly at this range. Based on the chart, a bullish symmetrical triangle can be seen where we could likely to expect a bullish continuation pattern and price movement when modest volume kicks in to break the triangle.
Should we break upwards with enough volume, we would want to test the $6 resistance and a slight rejection. Hopefully we could hold and trade within the new price range of $6–6.60.
-Tokok69
Merchant Bull of the Week:
Near price still in bull run. The local highs are rising, there was a downwards channel forming beginning of Sept which usually indicates a pending breakout. Accordance to Fibo levels, Near price could break out and trade in the range of $6.6–7.4.
-anhkhoa
Hopefully this gives everyone a wide perspective of what to look out for. NEAR still remains bullish but has some resistance at particularly the $6.50 level.
Thanks for the Merchants for submitting predictions. If you want a chance to earn NEAR for accurate predictions or be featured in articles please head over and join or TG community.
https://t.me/joinchat/9p64iHVo1e41ZjBh
Best of luck and happy hodling!
