The Last Few Days Could Be Just The Start
Today we are going to revisit two coins that we have featured before as they are making impressive moves to their potential targets.
ROSE was recently featured on January 1st, 2022 and you can read that article HERE.
NEAR was also featured recently on December 27th and you can read that article HERE.
We can consider this article as an updated version now that we have a bit more price action to analyze.
ROSE in Price Discovery
ROSE has finished a pullback after finding resistance once again on the upward sloping trend. We last spoke about ROSE near $0.42 and at that point ROSE was either going to break out of the trend and flip $0.58 or it was going to pullback from the traders taking profits that entered near $0.23.
Looks like the profit taking won that battle and ROSE initial fell to $0.37 but then came all the way down to $0.30, our second support level, before finding some buyers.
The plan remains the same as before except now, ROSE is back in Price Discovery as she was able to make a new ATH earlier today. The second chart shows the plan for ROSE. Similar to our last article, ROSE needs to break out of the upper trendline first but traders will start buying ROSE all the way down to $0.37 again – if we are to see another pullback.
If the momentum remains strong then we are looking for a break of the trend – a push and flip of $0.58 and then a rally all the way up to $0.91. The move from $0.58 to $0.91 is a 56% move and would all be price discovery – this means there is literally no upper resistance at all.
NEAR in Price Discovery
NEAR gave us our initial Support Zone that we spoke about a few weeks ago. The direct quote went something like this: “$13.24 to $12.33 is the initial zone. This area is used when the asset gets really Bullish, really quickly and shallow dips are all we receive. Being that NEAR pushed 91% in 6 days, we can say that we are more likely to see shallow dips than larger dips.” Over the last two weeks, we have found support around the $14.24 area five times. In the last 3-days we have seen NEAR push 42% already.
We are also happy to report that our initial area of Price Discovery resistance at $17.34 did indeed get tested and did hold for the first run-in. Our major targets do stay the same but of course the percent potentially gained has been shifted since we only got the shallow pullback as opposed to the larger and deeper pullback.
Major Price Discovery targets for NEAR are still looking like $13.83, $23.01 and $32.09. Once again, these are huge targets but they are all in Price Discovery – which we entered yesterday after making another new ATH. This means there is no upper resistance and these coins can move as wild as the market will allow them to.
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