Hello everyone,
The Layer 1 market is always lively with fierce competition. Today, let's analyze the charts of two prominent names: Avalanche ($AVAX) and Near Protocol ($NEAR) to see which side the opportunity is leaning towards.
1. Analysis of Avalanche ($AVAX) - The Strength of the Ascending Channel
$AVAX is showing a quite sustainable and clear bullish structure on the daily timeframe (D1).
* Model: Price moves steadily within an ascending channel, continuously creating higher highs and higher lows.
* Important area: The current strong support is the lower edge of the price channel, around $35. The nearest resistance is the upper edge, around $48-$50.
As long as $AVAX remains within this price channel, the upward trend is still maintained.
$AVAX
2. Analyzing Near Protocol ($NEAR) - Waiting for the Silk Burst
Unlike $AVAX, $NEAR is moving in an accumulation symmetrical triangle pattern after a strong increase.
* Model: This is a price compression model, indicating a strong breakout is about to occur. The price is tightly compressed between two trendlines.
* Decisive point: $NEAR needs a decisive breakout from the upper edge of the triangle (around $5.8) to confirm the continuation of the upward trend. If it breaks below, the risk of a correction will increase.
Based on technical analysis:
* $AVAX: Safer and clearer trend at the moment. Suitable for those who prefer stability.
* $NEAR: There is potential for a more explosive breakout, but it also comes with risks if it breaks below. Suitable for those who like to "bet" on a major breakout.
What about you? Which token are you holding? Team $AVAX or Team $NEAR, let me know your choice and reason in the comments!
#Write2Earn #Layer1 #AVAX #NEAR #CryptoAnalysis #BinanceSquare