Token

Long

when

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/near-token-faces-falling-prices" data-wpel-link="internal" rel="noopener noreferrer nofollow">Near Token Faces Falling Prices</a><br></p>
<p style="text-align: justify">Near experienced a notable decline in its <a href="https://en.bitcoinhaber.net/pepe-token-volume-drops-sharply" data-wpel-link="internal" rel="noopener noreferrer nofollow">token</a> price last week, hitting a seven-day low early on July 24. The token’s decreasing value led to significant long liquidations in the futures market, compelling <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> on the wrong side of the trade to close their positions.</p>
<h2 id="what-caused-near-s-decline">What Caused NEAR’s Decline?</h2>
<p style="text-align: justify">At the time of writing, NEAR is trading at $5.94, having dropped nearly 5% over the past week. This decline triggered liquidations among futures investors who had anticipated a price increase. Liquidations happen when the asset’s price moves contrary to the investor’s position, resulting in a forced closure due to insufficient funds. Over the past seven days, NEAR long liquidations reached around $2.31 million, according to Coinglass <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data</a>.</p>
<h2 id="why-do-investors-still-demand-long-positions">Why Do Investors Still Demand Long Positions?</h2>
<p style="text-align: justify">Despite the downturn, futures market participants continued to favor long positions, as evidenced by a funding rate of 0.0047% on cryptocurrency exchanges. This trend persisted even though NEAR’s weighted sentiment has been predominantly negative since June 24, standing at -0.26 currently. A negative sentiment indicates that social media discussions are rife with fear, uncertainty, and doubt.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<p style="text-align: justify">– Monitor NEAR’s weighted sentiment for shifts from negative to positive, which could indicate a potential price increase.<br> – Be cautious of long positions during a declining trend to avoid forced liquidations.<br> – Keep an eye on funding rates as an indicator of market sentiment and demand for long positions.</p>
<p style="text-align: justify">If NEAR’s sentiment shifts positively, its price could potentially rise to a monthly high of $6.49, spurring increased demand for the altcoin. However, if the current downtrend continues, the token’s price might fall to $5.17, emphasizing the importance of vigilance for investors during volatile periods.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/near-token-faces-falling-prices" data-wpel-link="internal" rel="noopener noreferrer nofollow">Near Token Faces Falling Prices</a></h5>

Near Token Faces Falling Prices

Table of Contents

BH NEWS

Other articles published on Jul 24, 2024

BlockDAG to Unveil CEO and Team on July 29th – Polkadot and Tron Investors Buy into the $60.4M Pr...

Litecoin’s Speed, Ethereum’s Stability, and Shiba Inu’s Meme Appeal: Why Whales Are Betting on WW...

Delist Announcement from Bitcoin Exchange Binance! Three Altcoin Trading Pairs Delisted from Spot...

Next Cryptocurrency to Explode Tuesday, July 23 — Ethereum Name Service, Ribbon Finance, Convex F...

MoonBag Boasts a Robust $3.5 Million Liquidity Strategy While Pepe Surges Impressively

Crypto custodian Hex Trust granted a license to offer services in Singapore

Join our free newsletter for daily crypto updates!