🚨 $NEAR Prints a Textbook Double Top! Trend Reversal? 📉💥
Take a look at this daily chart for NEAR Protocol ($NEAR) in image_c58fb9.png! The bulls ran into a brick wall at the $2.80 resistance zone twice, forming a classic bearish "M" pattern (Double Top).
Here is the quick technical breakdown:
The Neckline Crack: The sellers have officially pushed the price below the critical neckline support at $2.25.
The Breakdown: $NEAR is currently trading down at $2.15, losing the dynamic support of the daily EMA 5.
The Play: Confirming a daily candle close well below $2.25 solidifies the bearish reversal. Short-term traders are targeting deeper support levels down the chart. Watch out for a potential dead cat bounce to retest $2.25 as new resistance before the next leg down!
Are you shorting this breakdown or waiting to buy the deep dip? Let me know below! 👇👀
🚨 Disclaimer: Not financial advice (NFA). Crypto markets are highly volatile. Always do your own research (DYOR) and manage your risk with strict stop losses!