BIG NEAR PROTOCOL SIGNAL – MOONSHOT POTENTIAL?? BE ON TIME

Hey guys what’s up it’s frank here from Altquin buzz and today we have another Exciting and informative video about Near protocol here we’re looking at near Usdt on binance this coin this Cryptocurrency has experienced explosive Growth three and a half thousand percent Since a year and a half ago so can this Trend continue interestingly enough near Protocol has had a 6.6 percent loss over the past week Which if you look at all the other Top 30 altcoins is actually the lowest Loss compared to all the others apart From of course The stable coins so clearly it’s been Holding its own pretty well we almost Reached all-time high this past week so We’re gonna see if this is something Which is likely to happen to reach the All-time high of near on near protocol Of 20.4 dollars of course we’re going to Start by looking at the bigger picture But we’re going to go all the way down To the four hour time frame and i’m Going to show you some especially Important indicator which is the macd Actually on the daily time frame the Macd is doing something now which in the Past has led to some very predictable Outcomes so i’m gonna tell you why you Have to be watching out for this and What this likely means for the price Stick around till the end of the video

Until the end of the analysis to find Out what that is now for those of you Who don’t know altquin buzz is first and Foremost a crypto investment research Company and we have been providing you Numerous 100x returns since 2017. so if you want to get in on that Action join our alt queen buzz access Group where we document up-to-date Research covering undervalued altcoin Gems nft minting opportunities and our Portfolio strategies the new and Improved altcoin buzz access group Memberships start at just 99 per month So click the link down in the Description or in the pinned comment Section down below to take part in the Action alternatively just click the link Up above and finally please note that This is not financial advice [Music] Okay so we’re looking at near usdt here On tradingview.com now i like to think Of every cryptocurrency every chart Really as a person who has a history and Most people just as most Charts most assets Tend to be going up tend to be improving In certain ways over time and as you can See near has an uptrend here a high A higher low a higher high so we’re in a Very clear uptrend as i mentioned in the Beginning of the video we have seen Almost three and a half thousand percent

Growth since october 2020 about a year And a half so can we continue for Another move up or are we potentially Reaching a top here just as everyone has Good times in their life where things Are going well sometimes the momentum Starts to diminish so that’s what we’re Gonna see today is the momentum still There or are we losing it so let’s Actually go to the weekly time frame Where we can see something of relevance First of all look at this massive volume Spike here for the week of the 4th of April 2020 Until a couple days ago We didn’t have this much volume since September 2021 so a very long time ago And also note this candle over here this Is known as a spinning top so what does This mean this means that there was a Long upper wick there was a long lower Wick and this is actually a bearish Spinning top where the open of the Candle was above the close of the candle It’s also known as an indecision candle Because the price sort of goes up and Down and traders are not really sure Which direction it’s going in but Certainly the direction of this candle Is not great and this is also Potentially a blowout top we’ve had a Lot of volume here it’s not the perfect Example of a blowout top i will actually Show you what a very good example of a

Blowout top looks like when we go down To the lower time frames but look also At this we have a bullish crossover of The macd the macd line which is this Blue line has crossed over the signal Line which is by the way the Nine moving average the nine Unit moving average of this blue line so This is a good sign it means that the Momentum is still here on the weekly Time frame despite having had this you Know somewhat bearish Indecision candle this spinning top Right now and this is further made clear By the three candles prior to this Spinning top which of course is known as The three white soldiers formation Basically just three green candles One after another each with higher lows And higher highs so basically the weekly Time frame is telling us that yes we are In an uptrend However there is some reason to be Cautious with this last candle and we’re Gonna look down at the daily and one Hour and four hour time frames to see if We have any more detail now here we have The perfect textbook definition of a Blow out top we have an Increasing volume over here a volume Spike on the 8th of april again we Haven’t seen this much volume since December 2021 Many many months now not to mention that

We also have this bearish candle over Here on the 8th of april the name of This candle is a gravestone doji the Basic structure which is a very very Long upper wick and a small body with a Very very lower To non-existent lower wick is there and This is a bearish candle not to mention That we broke through this parallel Channel and then came right back down With the blow off top and then to top That off we also had a bearish Divergence on the rsi a lower low on the Rsi and a higher high on the price and It was no surprise whatsoever that we Saw a Cooling down of the price here a loss in Momentum now will this loss in momentum Continue to further downside action this Is what we’re going to find out today Quick mid video question for you guys Type down in the comment section below Do you think we are more likely to first Of all hit the 13.5 Level or the previous high of 20.2 Dollars which level do you think we are More likely to hit first and of course Watch the rest of the video to inform That decision but also please let me Know what you think and why so first of All i’m zooming out here to show you the Bigger picture and the bigger picture is This parallel channel now i like Parallel channels this is not a perfect

Example of one but this is what you Should do when you see Two lines here which have very very Clear pivot points something which a lot Of traders do is they draw a parallel Channel where on the top you see there’s Only one touch which technically is not Enough for a trend line you need at Least two however what often happens is That the price will Form a channel whereby these two if you Draw a parallel line as i have here it’s Very possible that we will find some Sort of resistance up here and that’s Why i have a resistance here at the 23.5 Level if you wait until the end of the Video i’ll tell you what all the major Resistances and supports are but this is What i would view as the sort of Intermediate term potential resistance Where we to get up there right so with That in mind you can see that we’re Basically in the middle of this channel So this is a sign that again there’s not A lot of clarity as to which direction We are likely to head because we’re not Currently in a clear support the bottom Of the channel or resistance the top of The channel now here is what i want you To pay attention to what i mentioned in The beginning of the video what is Probably the most significant Indicator on this chart is this macd now If we zoom in here

We can see that the macd line is very Very close to the signal line it’s had Almost a vertical drop and so it seems Very likely that we will break through This line and if we break through this Line we need to back test to see what Has happened the past time that we’ve Broken through this line and more Specifically we’re only looking at A bearish crossover of the macd which Falls a above the zero line here so the First clear crossover we saw was back Here in september 2021 as you can see The price Was stabilizing then it had a little bit Of downward movement but basically we Did not see any upside price action Right the price was more or less stable For many many days thereafter the next Time we saw a crossover was in november 2021 and again we saw a lot of Stabilizing of the price and then we saw A move down right and this moved down Correlated with what another bearish Crossover on the macd so Again we already have one Two three signs that this means that we Are not going to see any upwards price Action in the coming days now here is Where it gets interesting In january 2022 on the 8th of january 2022 we had a bearish crossover but here Instead of the price going down we Actually had

Several green bars taking us to new Highs But what happened when we reached those New highs we had a very very big dump And from the high of 20 we went all the Way down to 7.5 for a 63 Loss on the value of this asset so Yes we did have another move up but Very shortly after we had what another Bearish crossover of the macd and again A lot of bearish price action thereafter So what i predict is that first of all We need to watch closely over the coming Couple of days to see if we see this Bearish crossover it seems rather likely That we do and if we do there’s two Scenarios the more likely scenario which Has happened at least three times over The past several months is that we see a Stabilizing of price so a stabilizing of The price might look something like this We may even come down and find support At this major support level Approximately the 11 level but we may Also instead simply do something along These lines where we really just don’t Have much movement in either direction Before making another move up now this Is what i would view as the most likely Scenario that we have a cooling down of The price not nothing too major i think It’s relatively unlikely that we go too Much below the 11 Mark and then hopefully potentially

Because again as we mentioned there is a Bullish crossover on the macd on the Weekly because we’re looking for a long Bias it’s more likely than not that the Trend will continue the trend is your Friend of course But another possibility which as i Mentioned we saw over here bearish Crossover what happened we had oh one Big more move up to shock all these Traders and then an explosive move down So this could also happen now and this Would look something like this whereby You know instead of going down now we Have another move up whereby we cross The previous high everyone’s very Excited there’s a lot of movement in the Market and then we have another blowout Top where we potentially reach this 23 And a half dollar level at the top of This parallel channel and then have Another more brutal move down again Potentially down to the bottom of this Channel at 11 and certainly if we have a Move up to the top there it’s somewhat More likely that we have especially if We have it quickly within the next few Days and we have another volume spike Surpassing this previous one then you Know the market will be overheated we’ll Very likely see overbought signs on the Rsi and then we’re more likely to see a More explosive move down very similar to How we saw back here in january so if

You are looking to short the market i Would say this is potentially an Interesting level to look at the 23.5 Dollar level but i certainly wouldn’t Recommend doing that blindly it would You would be wanting to look for certain Patterns certain Candles bearish candles and or Indicators on the rsi and the macd which Would suggest uh Good reasons for going short now if we Zoom in a little bit here we’re seeing Some interesting price action here on The rsi we saw a Bearish Divergence here as i mentioned before Where we had a higher high on the price And a lower low on the rsi and this led To some bearish action over the past Three days however we’re also seeing a Hidden bullish divergence whereby we Have a lower low on the rsi but a Slightly higher high on the price So again we are seeing several mixed Signals here and this is why i Personally would say this is a very very Bad idea to be looking for a trade Anywhere near the current price level we Really want to be coming down closer Towards the 11.5 level or coming up Towards the 23.5 level before i would want to Consider entering a trade here but as i Mentioned the weekly time frame is in an

Uptrend there’s no reason to believe That we are going to cross below this The the major major support which is the 6.5 level but even getting down to the 7.5 level Is relatively unlikely unless of course We have a complete breakdown of the Cryptocurrency markets so we are looking For a long bias and if we are looking to Enter long let’s look at the four hour Time frame here so on the four hour time Frame we are seeing this resistance at The 17.6 dollar level we had multiple Touches of this level we had a brief Breakout but unfortunately it did not Work it did not lead to any further Bullish price action we came up we Tested it again so clearly if we managed To break up over this again it’s much More likely that this time we will Actually find more bullish price action Because at that point the sellers who Are obviously trying to sell at the 17.5 Level will be exhausted there won’t be Any more of them and then this will Likely lead to further Price action to the upside but certainly This is a very important resistance to Break the 17.5 level and on the four Hour it looks more likely than not Because we are in a downtrend right a Low lower high lower low somewhat more Likely than not that we will instead Come down to a level such as the 14.6

Level this marks previous resistance Previous support so this would be these Would be the two levels between which we Would be bouncing between and and any Break of either of these levels is Likely to be quite significant for the Short to medium term so when it comes to The major support levels the next level We’re looking at again here we’re Zooming out a bit on the daily time Frame the 13.45 level we’ve had previous support Twice once resistance so we might find Some support there another much more Major level is the 11.115 level for multiple reasons number One we have a volume profile here Suggesting a lot of interest at this Particular price this is a feature only Available on Tradingview.com of the pro version so Not only that but we have a potential Touch on this diagonal support line Which would come down if the price were To come down over the coming week or two And then the next support would be of Course the weekly low at the 7.5 level Although my bet is that we won’t Actually be getting down to this level At all now in terms of the resistance The four hour time frame is going to Help us here we have the 17.5 level as i Mentioned multiple times that we tried To break out from this we had one failed

Breakout if we break out from this again Very likely we see more price action to The upside the next resistance would Clearly be the previous all-time high of Approximately 20.2 Dollars obviously we had some spikes Some wicks pushing us out from that but I would say 20.2 dollars if we’re Looking at the previous candle closes And then finally if we do break out from This high certainly if we break out from It within the coming week or two my Prediction would be that we would be Looking at to see what happens at the 23.5 Level if there are any signs of Resistance there because this is a Potential uh resistance if this diagonal Channel over here continues to form in Other words if the two lows of this Channel Corresponds to Highs on the upper Side of this channel and this is the Four hour but if you look at the daily Again these larger channels it’s better To Go on the higher time frames you can see That we have a closes at the bottom of This channel so potentially we will see A close at the top of this channel Alright guys that’s been it from me for Today i hope you enjoy this i hope you Learned something and if you enjoyed

This technical analysis feel free to Check out my previous videos i made a Video on solana which you can find over Here i like to make things simple so if You appreciate this type of technical Analysis then you will likely enjoy that Video as well and so this is a good sign It means that the It means that The momentum is still here [Music] You