$NEAR: Channel breakdown and rejection 🚨
The H4 chart illustrates a heavy rejection at the upper resistance of the ascending Channel pattern around the 1.45 zone. Following this latest touch, a sharp downward arrow indicates that bulls are at risk of a significant correction back toward historical support.
📊Data:
• Pattern: Channel pattern
• Support: 1.10
• AI Target:
Price action suggests a local dip is turning into a sharp bearish move toward the lower trendline. Keep a close eye on the 1.40 level; are you entering shorts here or waiting for the bounce at the bottom?
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