Currently, the price of NEAR Protocol (NEAR) is 7.12 USD. Below is an analysis of support and resistance levels and futures trading strategies for NEAR in the short term, medium term, and long term:
Support and Resistance Levels:
• Support:
• 6.50 USD: A strong support level where the price of NEAR has bounced back multiple times in the past, indicating significant buying pressure at this range.
• 6.00 USD: The next support level, identified by previous technical analyses.
• Resistance:
• 7.50 USD: The nearest resistance level; breaching this level could pave the way for a continued uptrend.
• 8.00 USD: The next resistance level, need to monitor price reaction here.
Futures Trading Strategies:
• Long Position:
• Buy in the price range of 6.50 – 6.80 USD: This is near the strong support level, which could provide a safe entry point with growth potential.
• Take Profit: Set a take profit target at 7.50 USD, corresponding to the nearest resistance level.
• Stop Loss: Set a stop loss order below 6.50 USD to limit risk if the price falls below the support level.
• Short Position:
• Sell in the price range of 7.50 – 7.80 USD: If the price approaches this resistance level and shows signs of reversal, this could be a reasonable short entry point.
• Take Profit: Set a take profit target at 6.50 USD, corresponding to the strong support level.
• Stop Loss: Set a stop loss order above 7.80 USD to limit risk if the price continues to rise above resistance.
