- Near Protocol Price Level
- ONDO Resistance and Key Levels
- Conclusions
Analyst Rekt Capital shared his insights on the price trajectories of Near Protocol and ONDO in the latest edition of his newsletter. He highlighted which price levels to watch for potential significant movements of the tokens in September.
Near Protocol Price Level
The analyst noted that Near Protocol needs to close its monthly candle above the $4.36 price level to establish a favorable trajectory toward the blue macro downtrend. Currently, NEAR is showing signs of potentially losing this level as support. If the monthly close occurs below the black $4.36 level, NEAR may turn this level into new resistance in September. Such a shift in technical dynamics could lead the price to follow the red path over time.
ONDO Resistance and Key Levels
The analyst noted that for several weeks, ONDO has been turning the light blue level of $0.74 into new resistance, which marks a significant shift from its previous successful retesting of the same level as support from March to May. If the monthly close occurs below the light blue level, it could indicate further declines toward the black levels over time. Additionally, if the monthly close occurs below the light blue level, a bounce might occur, flipping this level into new resistance in September, which could lead to continued downside towards the black levels. To preserve the range between $0.74 and $0.97, ONDO needs a monthly close above the light blue level. However, the analyst observes that ONDO may be losing this range, with the monthly close being crucial for confirmation.
Conclusions
Rekt Capital's analysis highlights that the monthly close levels will be crucial for both NEAR Protocol and ONDO. The outcomes of these closes could significantly influence the future price movements.
The monthly close is expected to be an important event for both tokens. Rekt Capital recommends closely monitoring the key levels, as they could change the price dynamics in September.
