Is N $NEAR actually getting ready to trap the bears?
We've been watching this consolidation for a while now after that local top near 1.40. Right now, the price is just hovering around 1.217. It feels like a standoff. We held that 1.139 level pretty well recently, but the momentum isn't quite there yet to push back into the 1.30s.
Volume is sitting around 12.84M, which is okay but not explosive. I'm looking at the previous support around 1.194 as the line in the sand. If we lose that, we might be heading back down to test the 0.971 zone again.
On the flip side, if we can build some strength here and clear 1.256, things might get interesting fast. I'm staying patient and waiting for a clear break before jumping in. No need to force a trade when the chart is just breathing.
Watching the 1D closely.