Trading Plan Short $NEAR
$NEAR is rejecting the 1.904 resistance after an initial push, setting up for a potential distribution.
Entry: $1.887-$1.917
Stoploss: $1.975
Targets: $1.870 / $1.825 / $1.765
NEAR pushed into the 1.904 resistance, which is the nearest structural supply, and is showing immediate rejection on the 1h. Despite the 4h bull trend, the 1d is ranging, suggesting this move is likely a deviation to grab liquidity. Funding is slightly negative, but OI is climbing 4.38% on this push, indicating retail chasing. Top traders are heavily long, setting up for a classic smart money distribution. A clean reclaim of $1.946 invalidates the short thesis.
Trade $NEAR here 👇
$NEAR is rejecting the 1.904 resistance after an initial push, setting up for a potential distribution.
Entry: $1.887-$1.917
Stoploss: $1.975
Targets: $1.870 / $1.825 / $1.765
NEAR pushed into the 1.904 resistance, which is the nearest structural supply, and is showing immediate rejection on the 1h. Despite the 4h bull trend, the 1d is ranging, suggesting this move is likely a deviation to grab liquidity. Funding is slightly negative, but OI is climbing 4.38% on this push, indicating retail chasing. Top traders are heavily long, setting up for a classic smart money distribution. A clean reclaim of $1.946 invalidates the short thesis.
Trade $NEAR here 👇
