In our previous analysis, we pointed out that $NEAR/USDT was likely to touch the $4.45 zone, and here we are. The price has dipped to this critical level, presenting an exciting moment for traders who followed this recommendation. Let’s dive deeper into what’s happening now and where we go from here.

Technical Review of $4.45

$NEAR touched the predicted support zone of $4.45, aligning with the broader market sentiment and technical indicators. This support has held so far, and the price is now stabilizing around this level. Here's a breakdown:

  • Stochastic RSI: We see oversold conditions, especially on the shorter timeframes (1h and 15m), which could signal that a short-term bounce is on the horizon.

  • Volume: The volume remains subdued, but any increase here could be a sign of accumulation by large traders preparing for a reversal.

Should You Buy Now?

As the price has reached the anticipated $4.45 level, here’s what both spot and futures traders should consider:

  1. For Spot Traders:

    • Entering at this level makes sense if you’re in for the long haul. Keep accumulating in stages, starting at $4.45 and potentially setting a buy order at $4.2, in case the price moves lower.

    • Exit Strategy: Look to take partial profits around $4.85-$5.0 for a solid gain, while holding the rest for longer-term targets.

  2. For Futures Traders:

    • If you're looking to open a long position, now might be the time, but only with proper risk management. Enter with a tight stop-loss below $4.4 in case the level doesn’t hold.

    • Targets: Short-term traders should target around $4.75-$4.85 for a profitable exit.

What’s Next?

The market remains volatile, so it’s crucial to stay on top of news and key indicators that could push the price in either direction. If $4.45 holds, the next upside levels to watch are $4.75 and $5.0. However, if the price breaks below $4.45, the $4.2-$4.25 zone becomes the next likely support.

Final Recommendation: Stick to your strategy. If you’re in for the long term, accumulating now should serve you well, while short-term traders need to play the volatility with caution. As always, follow the signals, and don’t rush into anything without a clear plan. (DYOR)