$NEAR has been on a real tear. The current price is 5.223, up 11% over the past 24 hours. It climbed from 4.656 to 5.28 intraday and is already near the top of its range. Trading volume is 194M, and the funding rate is 0.010%. Long sentiment is pretty heated, but chasing the move here offers only so-so risk/reward. Near the previous high, we still need to see whether volume can sustain the move.
I opened a long at 2 a.m. at an entry price of 4.83, using 3x leverage. After holding for forty minutes, I’ve now closed the position and locked in 248 USDT, a 31.1% return. My stop-loss was set at 4.256 and my take-profit at 5.698. If it falls below 4.83 and the rebound is weak, I’ll consider closing part of the position first. Only if it breaks above 5.28 and holds there will there be room to target further gains; I’ll take profits in stages near 5.698.
For now, I’d rather protect my profits and won’t rush to add to the position. NEAR has rallied quickly, so the next thing to watch is whether a breakout comes with genuine volume.
I opened a long at 2 a.m. at an entry price of 4.83, using 3x leverage. After holding for forty minutes, I’ve now closed the position and locked in 248 USDT, a 31.1% return. My stop-loss was set at 4.256 and my take-profit at 5.698. If it falls below 4.83 and the rebound is weak, I’ll consider closing part of the position first. Only if it breaks above 5.28 and holds there will there be room to target further gains; I’ll take profits in stages near 5.698.
For now, I’d rather protect my profits and won’t rush to add to the position. NEAR has rallied quickly, so the next thing to watch is whether a breakout comes with genuine volume.