Welcome back to Cheeky Crypto Uncensored! In this video JB is diving deep into the price action of Near Protocol, analyzing its performance across different timeframes to uncover potential future movements.
Hourly, Daily, and Weekly Timeframe Analysis
Starting with the hourly timeframe, JB can observe an impressive upward correction, forming a wxy structure. This pattern suggests further upside momentum, with potential targets between $228 and $253.5.
On the daily timeframe, JB notices a double bottom formation on November 21st and 28th, adding further credence to the bullish outlook. However, the internal count is somewhat tricky, hinting at a potential diagonal pattern or complex wave structures.
The weekly timeframe brings into focus key resistance levels at $287 and $611. A breakout above $287 would be a significant development, confirming the bullish trend. However, overbought weekly stochastics suggest caution is warranted.
Potential Future Targets
Based on JB’s analysis, we can envision potential future targets for Near Protocol. These include $1.78, representing a significant price increase, the all-time high of $20.59, and the $611 resistance level.
Community Opinions and Investment Strategies
JB is eager to hear from the community about their outlook on Near Protocol and their investment strategies. Are you bullish on the project? What are your target prices? Share your thoughts in the comments below!
Safe and Responsible Trading
Remember to always trade responsibly and prioritize safety. Set tight stop-loss orders to protect your capital and aim for profitable gains in the ever-evolving cryptocurrency market.
JB wishes everyone a great day ahead and encourage continued learning and exploration in the exciting world of cryptocurrencies.