NEAR/USDT
Once tipped to be the next best thing in Crypto, now 70%+ down from its all-time highs.
Is it time to buy the dip? Or is there further downside to come?
Looking at the chart, the price eventually found support at the 0.786 Fibonacci retracement level drawn from the lows on July 21 to the all-time high + Value area low of the same range. After dropping 70% in value and hitting a significant Fibonacci level, a relief bounce becomes more likely than a continued sell-off lower.
While price is at support, we should only be interested in longs unless support is lost and flipped into resistance.
Interestingly enough, the Fibonacci expansion levels fall in line with regular Fibonacci levels + Weekly & Monthly levels, which makes for great targets IF current support is lost
@Whalescryptovip
