Ok so $NEAR ...
Down 7.8% to $4.81 today and everyone panicking. But check context.
Today wasn't a NEAR problem - BTC dumped under $81k, $1B+ longs got liquidated market-wide. NEAR alone had $13.8M liquidations, 89% were longs. Of course it dumped hard from $5.30 high to $4.30 low.
On my chart: it pumped to $4.86 around 1:55pm then just gave up and broke MA60 (4.833). Right now it's sitting BELOW it. Short term? Bearish. I'm not longing this knife.
But let's be real - zoom out.
NEAR is still +105% in last 30 days. Went from $2 to $5.50 in September. This is just healthy profit taking.
Fundamentals haven't changed:
- Oct 7 integrated Robinhood Chain into http://near.com - big deal for onboarding
- Bitwise NEAR ETF launched Sep 29, already $60M in
- $243M TVL, 5M+ daily txs
So will it hit $5 again?
Yeah, I think so. Just not today.
If we can hold $4.65-4.70 and flip back over $4.833 with volume, $5.17 then $5.30 is next. All the models are saying average $5.38 for October.
Worst case: if we lose $4.33 support and BTC keeps bleeding, we might wick to $4.00-3.80 before we see $5.
My plan: wait. Not longing here. Let it reclaim 4.833 first. Funding just went negative and OI flushed hard - that's actually good for next pump.
Short term pain, mid term still bullish. $5 is when, not if.
NFA btw.
#NEAR
Down 7.8% to $4.81 today and everyone panicking. But check context.
Today wasn't a NEAR problem - BTC dumped under $81k, $1B+ longs got liquidated market-wide. NEAR alone had $13.8M liquidations, 89% were longs. Of course it dumped hard from $5.30 high to $4.30 low.
On my chart: it pumped to $4.86 around 1:55pm then just gave up and broke MA60 (4.833). Right now it's sitting BELOW it. Short term? Bearish. I'm not longing this knife.
But let's be real - zoom out.
NEAR is still +105% in last 30 days. Went from $2 to $5.50 in September. This is just healthy profit taking.
Fundamentals haven't changed:
- Oct 7 integrated Robinhood Chain into http://near.com - big deal for onboarding
- Bitwise NEAR ETF launched Sep 29, already $60M in
- $243M TVL, 5M+ daily txs
So will it hit $5 again?
Yeah, I think so. Just not today.
If we can hold $4.65-4.70 and flip back over $4.833 with volume, $5.17 then $5.30 is next. All the models are saying average $5.38 for October.
Worst case: if we lose $4.33 support and BTC keeps bleeding, we might wick to $4.00-3.80 before we see $5.
My plan: wait. Not longing here. Let it reclaim 4.833 first. Funding just went negative and OI flushed hard - that's actually good for next pump.
Short term pain, mid term still bullish. $5 is when, not if.
NFA btw.
#NEAR