A closely followed crypto strategist and trader says that a big move is on the horizon for Ethereum competitor Near while comparing one altcoin’s market structure to the explosive price action of Avalanche (AVAX).
Pseudonymous crypto analyst Cantering Clark tells his 99,100 Twitter followers that Near, a developer-focused blockchain designed for scalability and stability, is gearing up to take out its immediate resistance and ignite a move to the upside.
“Retest of prior range and ATH (all-time high).
Inside value of prior weekly trend and holding weekly + daily vwaps (volume-weighted average price).
In my opinion, the last thing for NEAR to do is break this descending diagonal resistance and current week VAH (volume area high) and the next big move happens fast.
Should the breakout take place, Cantering Clark predicts that NEAR will rally by at least 40% from its current price of $14.19.
“See yah at 20+ soon, though apparently, that is selling this early. I was told FXS goes to 100, NEAR goes to 50.”
The crypto analyst is also bullish on Harmony (ONE), a blockchain focused on powering a decentralized economy. According to Cantering Clark, ONE’s market structure resembles Avalanche’s price action before it exploded nearly 140% from $59 to $140.
“I knew this ONE retest reminded me of a prior similar structure. In this case, it was AVAX. Loss and recovery of prior weekly contextual level, quarterly VWAP, and 20-day moving average. Adding.”
Check Price Action
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/klyaksun/Vladimir Sazonov