NEAR Technical Analysis: Bad News For Near Protocol With This Fallout

The NEAR technical analysis displays a triangle fallout in the daily chart, providing a selling opportunity at the current prices with the ongoing retest. The NEAR price action displays a bearish breakout rally of a symmetrical triangle pattern after an early reversal from the 100-day EMA. However, the lack of a surge in intraday trading volume lights a fakeout possibility, as buyers might push the prices back above the trendline. So should you sell or wait for the post-retest reversal? Key Points: The Near Protocol prices show a retest phase of the broken trendline. The post-retest reversal shows potential to reach the $3.5 mark. The intraday trading volume in Near Protocol is $272 Million. Source-Tradingview NEAR Technical Analysis The NEAR price displays an early bearish reversal within the triangle pattern, resulting in a symmetrical triangle breakout. The breakdown of the support trendline fails to unleash the trapped momentum as the prices reverse from $3.85 to retest the broken trendline. However, a bearish turnaround from the 100-day EMA also breaks the 50-day EMA and restarts the falling trend in the EMAs. Nonetheless, the growing bearish influence over the daily candle reflects a possible downtrend to the $3.5 mark. The post-retest downfall will depreciate the coin price by 26.5% and plunge it back to the June-July bottom support of $3. First, however, the sellers must break the $3.85 and $3.5 support levels, which r...