Bitcoin is teasing a big breakout which we spoke about in our previous update and that means alt-coins are back on the watchlist for big money moves. Today we’re looking at an opportunity to get in early on a 300%-600% move!
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There’s something big brewing in the crypto markets and here’s the recap:
NEAR: Trade Trigger and Potential Gains Analysis
Note, NEAR price at time of writing: $10.9
Exhibit A – NEARUSDT – Daily
- NEAR is consolidating on the bottom channel
- NEAR is maintaining double bottom as well as key trendline and trying to break higher.
- Simple FIB extension method shows a potential 300%-600% move from the bottom levels.
- Expecting resistance around $13.5 before a move above $18 and beyond. Ultimate targets $40-$62 in the midterm with a potential for even 1000% from the lows.
Trade plan - Observations
As we’ve stated before, simple charts are great. They help you identify triggers to enter a trade before the action starts making you emotional.
Here’s the takeaway:
- NEAR is trying to find local support and will most likely follow a similar price action pattern as BTCUSDT
- Breaking $13.5 opens up the door to a quick 30% gain to $18
- Huge gains of over 200% will be accessed after this level as long as the overall market allows
- BTCUSDT defeating the yearly open will be pivotal
- No trigger – no trade. Unless you want to buy in pre-breakout which leaves you with the risk that it never comes.
Reminder: This is not financial advice, these are ideas we share with you all for educational reasons. Always do your own research.
NEAR - A Layer 1 Protocol with Great Potential
Yep we know, “1000% move coming!” You’ve heard it all before. Take a look at the investment performance of other layer 1 protocols such as ETH, BNB, AVAX and SOL over the last few years.
NEAR is a prime contender for replicating that type of explosive price action. We don’t have time to go into detail, but we recommend you look into NEAR’s use case and scalability.
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