Crypto Analysts Reveal These Critical Insights on Fetch.ai (FET) and Near Protocol (NEAR) Amid Volatile Market Shifts
Crypto analysts closely monitor price changes in digital assets looking for potential trading opportunities. Two tokens, Fetch.ai (FET) and Near Protocol (NEAR), have recently garnered attention from prominent voices within the crypto community.
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Crypto Tony’s Watchful Eye on Fetch.ai (FET)
Top analyst Crypto Tony shared his insights on the Fetch.ai (FET) token. According to his candlestick chart analysis, an upward-sloping trendline appears to be supporting the price on the lower end, suggesting potential buying interest whenever the price touches this line. However, Crypto Tony expressed caution, stating that if the daily close falls below $1.70, he would personally exit his position in FET, acknowledging the positive journey thus far.
Crypto Tony’s chart analysis also featured markers labeled “(i)” and “(ii),” potentially implying the use of Elliott Wave Theory, a technical analysis method that identifies recurring price patterns in waves. While the complete pattern isn’t fully labeled, these markers could represent the start of wave formations, adding an intriguing layer of analysis to the FET price movement.
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Show more +Near Protocol (NEAR): A Mixed Trend Landscape
Meanwhile, altFINs, an analysis platform, shared their analysis of Near Protocol (NEAR). According to their assessment, the trends for NEAR are mixed, with a bearish breakout from a Descending Triangle pattern followed by a bounce off the $4.60 support level. The price is now approaching the $6.00 resistance zone.
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altFINs suggests waiting for either a break above $6.00 to signal a potential resumption of the uptrend or a pullback near $4.60 for a swing trade entry opportunity within the uptrend, with an upside potential back to $6.00.
altFINs’ analysis indicates that while momentum for NEAR is currently bearish, there are signs of a potential upswing, as the MACD Histogram bars are rising, suggesting that momentum could be nearing another upsurge. Additionally, the nearest support zone is identified at $4.60, followed by $2.60, while the nearest resistance zone is $6.00 (a previous support level) and then $9.00.
Current Price Snapshot
According to the latest data from CoinMarketCap, Near Protocol’s price stands at $5.66, up 0.51% in the last 24 hours. Conversely, Fetch.ai’s price is $2.17, reflecting a substantial 10.70% increase over the same period.
As the crypto market changes, analysts like Crypto Tony and altFINs provide valuable insights and technical analysis, enabling traders and investors to navigate the ever-changing landscape with greater clarity and informed decision-making.
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