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$NEAR/$USDT trading strategy
- Buy/sell asset: Sell $NEAR/$USDT
- Entry price: $3.50
- Stop loss: $3.82
- Leverage: 1x
- Take profit 1: $3.15
- Take profit 2: $2.80
- Take profit 3: $2.10
- Timeframe: 1-2 weeks
- Maximum profit: 40%
- Maximum loss: 9%
$NEAR/$USDT chart and technical analysis
The price of $NEAR/$USDT is approaching a major resistance and supply area of $3.50. The price has recovered about 70% in the last 3 days and this could be the perfect opportunity to cash on a potential retrace.
I am expecting the price will make a retracement and could drop to the $2.10 support level in the coming days. The $3.50 is a major daily resistance level and the price is already facing rejection from that level.
I am considering the $3.50 resistance level for short entry and my target for this trade is $2.10. However, the overall trend in the long term will possibly remain bullish.
$NEAR protocol fundamental analysis
Fundamentally, the price will mostly follow the technical strategies as there are no major fundamental events that could impact the price of $NEAR protocol substantially.
$NEAR protocol to Tether trade idea takeaways
- $NEAR/$USDT is likely to drop to the $2.10 support level in the coming week and days.
- Multiple take-profit levels have been added to secure profit along the way.
- The risk-to-reward ratio on this trade is 1:4.4.
- The entry and stoploss prices have been placed at secure levels with the least probability of getting hit.
- Good luck!
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