NEAR/USDT: Head and Shoulders Pattern on 1-Hour Timeframe
Currently, NEAR/USD is forming a head and shoulders pattern on the 1-hour chart. If this pattern plays out, we could see a decline toward the lower trendline of the ongoing falling wedge. Additionally, a smaller head and shoulders pattern is unfolding, with a potential target range of $3.90-$3.80. A robust support level is present around $3.80.
It is important to note that today's Federal Reserve rate decision could lead to a market pump, which may invalidate the current head and shoulders patterns. Therefore, exercising patience and awaiting confirmation is essential for successful trading.
Please remember, this analysis is for informational purposes only and does not constitute financial advice. Trade at your own risk.
It is important to note that today's Federal Reserve rate decision could lead to a market pump, which may invalidate the current head and shoulders patterns. Therefore, exercising patience and awaiting confirmation is essential for successful trading.
Please remember, this analysis is for informational purposes only and does not constitute financial advice. Trade at your own risk.
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