đ $NEAR
SHORT SETUP đ
NEAR ran from $4.300 up to a high near $5.50 in the second leg, then stalled and has been rolling over with a run of red candles. Price has slipped under the 25 MA and is now bouncing weakly around the 7 MA. Iâm watching for a short on a push back up into the MA resistance zone, not chasing the current candle. đ
Entry: $5.290 â $5.330
TP1: $5.200
TP2: $5.120
TP3: $5.050
SL: $5.390
đ» Why NEAR is on watch:
Price ($5.239) is sitting right on the 7 MA ($5.239) and under the 25 MA ($5.297), with the 7 MA turning down and the 25 MA now acting as overhead resistance The structure shows a lower high compared to the $5.632 peak, and the latest push up to the $5.50 area was rejected, so the recent recovery looks like a rollover after a double top The last candles are small and mixed on fading volume, a sign buyers are losing momentum and the bounce lacks real demand The $5.180 to $5.200 area is the first support, with the rising 99 MA ($5.052) as the bigger downside target. A 1H close under $5.180 would confirm sellers are taking over
â ïž The 99 MA is still sloping up and price is holding above it, so this is a counter-trend pullback trade. Wait for a rally into the 25 MA zone before entering. A clean 1H close above $5.390 would invalidate the setup. Respect the stop and donât chase if price doesnât reach the entry zone.
Not financial advice. DYOR.
đ Follow CoinDispatch for more daily trade setups and market updates!
SHORT SETUP đ
NEAR ran from $4.300 up to a high near $5.50 in the second leg, then stalled and has been rolling over with a run of red candles. Price has slipped under the 25 MA and is now bouncing weakly around the 7 MA. Iâm watching for a short on a push back up into the MA resistance zone, not chasing the current candle. đ
Entry: $5.290 â $5.330
TP1: $5.200
TP2: $5.120
TP3: $5.050
SL: $5.390
đ» Why NEAR is on watch:
Price ($5.239) is sitting right on the 7 MA ($5.239) and under the 25 MA ($5.297), with the 7 MA turning down and the 25 MA now acting as overhead resistance The structure shows a lower high compared to the $5.632 peak, and the latest push up to the $5.50 area was rejected, so the recent recovery looks like a rollover after a double top The last candles are small and mixed on fading volume, a sign buyers are losing momentum and the bounce lacks real demand The $5.180 to $5.200 area is the first support, with the rising 99 MA ($5.052) as the bigger downside target. A 1H close under $5.180 would confirm sellers are taking over
â ïž The 99 MA is still sloping up and price is holding above it, so this is a counter-trend pullback trade. Wait for a rally into the 25 MA zone before entering. A clean 1H close above $5.390 would invalidate the setup. Respect the stop and donât chase if price doesnât reach the entry zone.
Not financial advice. DYOR.
đ Follow CoinDispatch for more daily trade setups and market updates!