The $NEAR setup is screaming for a breakout, but traders are fixated on the wrong level. With the current consolidation range, the lower end has been tested repeatedly, and the 24h change is a mere fraction of the overall range. This compression is building momentum, and the lack of significant movement is not a sign of weakness, but rather a coiling of energy.
The fact that $NEAR is holding near the middle of its range is a crucial observation, as it suggests that traders are hesitant to take a strong stance. This hesitation is what makes the current position so intriguing, as it sets the stage for a potential breakout. What are you watching on $NEAR right now?
Current read: $NEAR, spot tape.
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