Is this the bottom? Near Protocol bulls step up at $2

Near the protocol oscillates just above the psychological support of $ 2, the price showing the first signs of strength after a prolonged downward trend. Recovery of $ 2.80 as a support could confirm that the bottom is in place.

Near the protocol (CLOSE) The price is currently negotiated at a little more than $ 2 – a historic support area where it has consolidated in December 2023, before it dropped into a rally which sent it to $ 4.6. It seems that the bulls defend the support area from $ 1.90 to $ 2.00 because when the price has briefly dropped below during intraday diving on April 8, 9 and 10, the bulls intervened to repel it and it closed above $ 1.90.

Quasi-prix The action also continues to go to the 20 -day EMA ($ 2.24). Near the last attempt to recover this level at the end of March, and it has been negotiating since.

Adding to that, the MacD histogram is almost flat, and although the MacD line remains below the signal line, the space has been considerably reduced. This often precedes a bullish crossover, which could serve as a movement of movement confirmation for short-term bulls, especially if the price decreases above the 20-day EMA.

The% k line on the Stochastic indicator also crossed the% of line while the two were in territory of occurrence, an early classic bullish Inversion signal. If this crossing upwards is held and the oscillator continues to exceed level 30 – in particular combined with a rupture above the 20 -day EMA – it would validate more a change of bullish momentum.

To climb, so that loved ones regain control, the first step is a break and close above the 20-day EMA (~ $ 2.24). If this happens with a volume peak, it opens a path to retest the resistance zone from $ 2.60 to $ 2.80, which coincides with the SMA of 50 days ($ 2.59).

Look forward, if $ 2.80 are recovered and kept as a support, crypto analyst @ndkryptto said It will be a signal that near the price has printed the substance.