$NEAR USDC Analysis and Trade Plan

The short liquidation of $7.784K at $5.7362 shows growing buying momentum in $NEAR Protocol (NEAR).

Here's a comprehensive trading plan to navigate the next price movement.

Market Overview

Current Price: $5.7362

Market Sentiment: Bullish after significant short liquidations.

Volume Analysis: Increased buy-side activity indicates potential upside continuation.

Key Levels to Watch

1. Buy Zone:

Range: $5.6000 - $5.7000

A pullback to this range provides an optimal entry point for buyers.

2. Target Levels:

Target 1: $6.0000 (Psychological resistance)

Target 2: $6.2500 (Intermediate resistance)

Target 3 (Extended): $6.5000

3. Stop Loss:

Below $5.5000

This level invalidates the bullish outlook.

Trading Plan

1. Entry:

Look for entries in the $5.6000-$5.7000 range on a dip or consolidation.

2. Exit Strategy:

Take partial profits at $6.0000 and $6.2500.

Let a portion ride toward $6.5000 with a trailing stop.

3. Risk Management:

Limit your risk to 1-2% of your trading capital.

Use a strict stop loss to safeguard against sudden reversals.

Indicators Supporting the Analysis

RSI: Near neutral, offering room for upward movement.

Fibonacci Levels: $6.0000 aligns with key Fibonacci resistance.

Volume Profile: Buyers dominate, indicating sustained upward pressure.

Next Price Action Prediction

If $NEAR stays above $5.7000, it could rally toward $6.0000 or higher. However, a break below $5.5000 may trigger further downside to $5.3000.

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