Michaël van de Poppe Sells NEAR and Bets on Bounce Around €2

Crypto analyst Michaël van de Poppe is pleased with his recent day trade in NEAR Protocol. He sells the majority of his NEAR position and shares his further strategy. While the Bitcoin price slides further to $63K (a decline of 5.3% in 24 hours), Van de Poppe awaits better entry opportunities for his altcoin portfolio.

NEAR is available at OKX and Bybit.

Bounce play around the €2 zone

Van de Poppe looks at the 1H and 4H charts for strongly overextended signals to enter a possible bounce with a small position. Technically, he sees that opportunity around €2. At the time of his analysis, NEAR is trading at around €2,057. which is already well below the recent peak of €2.55 visible on the chart.

The analyst makes a clear distinction: he has largely closed his day trade position, but he maintains his altcoin portfolio position in full. With the remaining cash he has available, he looks for entry points at lower levels, as indicated on the chart. That lower area is around the €1.40 to €1.60 zone, which he describes as a good accumulation zone if the market offers that opportunity.

Bitcoin determines momentum for altcoins

Van de Poppe states that the recovery of altcoins like NEAR is directly dependent on Bitcoin. As soon as Bitcoin stops falling, he expects momentum to return to these assets. Given the current Bitcoin price decline towards critical support zones, he believes that moment has not yet arrived.

For his own trades, Van de Poppe uses OKX via derivatives. He points out that OKX is fully MiCA compliant, making it a safe place for European traders to trade futures, in his opinion. Through his referral link, €30 can be earned for free. You can find his OKX referral code here.