NEAR has gained a lot in the last few days and is now in our green resistance zone. We are currently trading around 4.415 in an uptrend.
A bearish divergence has now formed on the 4H chart, which is not a good sign in this zone and suggests a setback for the next few hours.
This is where the $3.70 area becomes interesting. There is the 200 SMA and the golden pocket (0.618 – 0.65 Fib. retacement level) of the upward move.
A look at the daily chart doesn't look really bullish either. We didn't make a daily close above the green box and also formed a bearish divergence here.
Trading volume is also decreasing. Thus, in the short term, there is much to suggest that we first go down one floor and recharge our batteries here for another pump.
We have to sustainably break through USD 4.63 in order to tackle USD 5.20. Here then lies an even larger resistance box.
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