NEAR Protocol

bullish

Bittensor

BOOK OF MEME

Mammon

<p>Recent analyses by two top crypto analysts have brought attention to Bittensor (TAO) and NEAR Protocol (NEAR). Each signals potential bullish setups on their respective charts.&nbsp;</p>
<p>Mammon and Michaël van de Poppe have shared insights suggesting favorable conditions for upward trends, but both emphasize the need for patience and confirmations. Here’s a detailed breakdown of their observations and strategies.</p>
<h2 class="wp-block-heading" id="strong-bittensor-tao-charts-show-key-support-and-accumulation-strong"><strong>Bittensor (TAO) Charts Show Key Support and Accumulation</strong></h2>
<p>Mammon’s analysis of <a href="https://captainaltcoin.com/bittensor-price-prediction-analyst-forecasts-taos-surge-to-new-all-time-high/" target="_blank" rel="noopener noreferrer nofollow">Bittensor (TAO)</a> highlights a healthy 25% correction from its previous high, positioning the asset within a critical demand zone between $475 and $500. This pullback is seen as a natural retracement, rather than a trend reversal, potentially setting up a bullish scenario.&nbsp;</p>
<p>Mammon notes that the price has tapped the 4-hour 200 EMA (Exponential Moving Average), a key dynamic support level that often signals trend direction. The touch of this EMA suggests that TAO may be preparing for a bounce.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24TAO&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$TAO</a><br><br>Time to pay close attention to TAO, it's almost time to shine again<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f440.png" alt="👀" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Price made a healthy 25% correction since the last high and has reached a strong 12H demand zone while also tapping the 4H 200 EMA. Price also filled the imbalance while we see signs of an accumulation… <a href="https://t.co/c7FcCWx6qn" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/c7FcCWx6qn</a></p>— Mammon (@D_DTRADING) <a href="https://twitter.com/D_DTRADING/status/1849356053990772769?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 24, 2024</a>
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<p>Moreover, signs of accumulation at the current price level indicate that traders are positioning for a possible upward move. Two potential game plans are on Mammon’s radar: if TAO reclaims the 200 EMA and breaks above the trendline, it could form a higher low, leading to a trend reversal.&nbsp;</p>
<p>Alternatively, TAO could dip once more into the demand zone, providing another buying opportunity before targeting new highs.</p>
<h2 class="wp-block-heading" id="strong-key-indicators-for-tao-s-price-action-strong"><strong>Key Indicators for TAO’s Price Action</strong></h2>
<p>Mammon’s analysis also emphasizes the importance of monitoring certain technical indicators. The 4-hour 200 EMA acts as a critical support, and any movement above this level could signal a bullish reversal.&nbsp;</p>
<p>The trendline marking the recent downtrend must be broken for this scenario to materialize, allowing for the formation of a higher low.</p>
<p>Another essential aspect is the demand zone between $475 and $500, where <a href="https://coinmarketcap.com/currencies/bittensor/" target="_blank" rel="noopener noreferrer nofollow">TAO’s price </a>has historically found support. This area is likely to serve as a foundation for potential upward moves.&nbsp;</p>
<p>Mammon advises traders to wait for clear confirmations, such as a break of the trendline or a reclaim of the EMA, to avoid possible bear traps.</p>
<h2 class="wp-block-heading" id="strong-near-protocol-targets-10-to-15-in-next-rally-strong"><strong>NEAR Protocol Targets $10 to $15 in Next Rally</strong></h2>
<p>Michaël van de Poppe shared a positive outlook for <a href="https://crypto.news/near-token-could-surge-225-crypto-analyst-predicts/" target="_blank" rel="noopener noreferrer nofollow">NEAR Protocol</a>, stating that the market is gearing up for the next leg up, with NEAR being a prime example. He notes that NEAR has retested its previous consolidation zone and is gradually moving upwards.&nbsp;</p>
<p>The analyst points to a target range of $10 to $15 for the next rally, should NEAR’s upward trend continue. NEAR’s chart illustrates a significant downtrend that began after peaking in early 2022.&nbsp;</p>
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   <p lang="en" dir="ltr">The markets are gearing up for the next big leg upwards.<a href="https://twitter.com/search?q=%24NEAR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$NEAR</a> is a perfect example.<br><br>It retested the previous consolidation area and is slowly crawling upwards.<br><br>The next target in the rally is $10-15. <a href="https://t.co/9tewdd6tQH" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/9tewdd6tQH</a></p>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1849420577083408476?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 24, 2024</a>
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<p>However, late 2023 saw a bounce, suggesting a possible trend reversal. Key support levels between $2.76 and $3.41 have been crucial in maintaining stability, with recent price movements indicating attempts to form a new base.&nbsp;</p>
<p>These support levels are seen as potential entry points for long positions, offering a favorable risk-to-reward ratio.</p>
<h2 class="wp-block-heading" id="strong-volume-and-technical-analysis-for-near-strong"><strong>Volume and Technical Analysis for NEAR</strong></h2>
<p>Volume analysis on NEAR’s chart suggests that the asset has seen active participation during both upward and downward movements. While there has been a recent decline in volume, this could indicate a period of consolidation, preparing for a breakout.&nbsp;</p>
<p>Michaël van de Poppe points out that if <a href="https://www.coingecko.com/en/coins/near" target="_blank" rel="noopener noreferrer nofollow">NEAR successfully maintains support above $3.41</a>, it could rally towards the $15 zone, which aligns with previous high points on the chart.</p>
<p>The Relative Strength Index (RSI) further supports this bullish outlook. The indicator, which measures momentum, was previously in an oversold state, aligning with NEAR’s bottoming pattern. As the RSI trends upward, it suggests room for additional gains without being overbought.</p>
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<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/why-is-book-of-meme-bome-price-going-up-today/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Why Is BOOK OF MEME (BOME) Price Going Up Today?</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-patience-and-confirmation-remain-key-for-both-assets-strong"><strong>Patience and Confirmation Remain Key for Both Assets</strong></h2>
<p>Both Mammon and Michaël van de Poppe emphasize the importance of waiting for confirmation signals before making trades. For TAO, the need to reclaim the 200 EMA and break the trendline is essential for validating a bullish setup.&nbsp;</p>
<p>Similarly, NEAR’s ability to maintain stability above $3.41 could determine whether it reaches the target range of $10 to $15. These analyses offer traders insights into potential opportunities, but caution is warranted.&nbsp;</p>
<p>Observing volume trends, key support zones, and dynamic indicators like the EMA and RSI can help in identifying the right entry points and minimizing risks. Both TAO and NEAR present intriguing setups, but patience and strategic decision-making will be necessary to navigate these markets effectively.</p>
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<p>The post <a href="https://captainaltcoin.com/bittensor-tao-and-near-protocol-near-charts-signal-potential-bullish-moves/" rel="noopener noreferrer nofollow">Bittensor (TAO) and NEAR Protocol (NEAR) Charts Signal Potential Bullish Moves</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bittensor (TAO) and NEAR Protocol (NEAR) Charts Signal Potential Bullish Moves

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