Two major support levels are currently marked with red lines on the chart. Locally the coin is likely to continue moving in the downtrend marked by the white line. After the last downtrend, NEAR corrected to the 0.236 Fibonacci level. Given the fact that the indicator has entered the oversold zone it makes sense to expect NEAR to bounce soon to at least one of the profit taking zones. Presumable trajectories of the asset's price movement are marked with blue lines. We also recommend placing a stop loss in the area below the last .
Use the GRID Bot by 3Commas to benefit from this strategy. Simply follow the steps below:
- Head over to the GRID Bot by choosing it from the main menu in your 3Commas account;
- Select the USD Market and the NEAR/USD pair;
- In the GRID Bot tab, go to the Manual strategy settings;
- Set the upper limit price to $3.73 and the lower limit price to $2. 05 ;
- Number of grid lines: 10;
- Click the Create button.
Best of luck, and happy trading!
-The 3Commas Team