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NEAR Protocol Achieves $244M TVL Milestone, Suggesting Potential for Continued Bullish Momentum
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NEAR Protocol has achieved a significant milestone, reaching $244 million in Total Value Locked (TVL), highlighting a new phase of bullish activity.
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This surge also accompanied a notable 10.82% price increase, demonstrating growing investor confidence in NEAR’s ecosystem.
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According to COINOTAG, “This achievement signals that NEAR is gaining traction in the highly competitive DeFi space.”
NEAR Protocol’s recent achievements mark critical points of growth and investor interest, indicating sustained bullish momentum and future potential.
NEAR’s breakout signals renewed momentum
The daily chart revealed an exciting breakout from a symmetrical triangle, a pattern often associated with strong directional moves. This breakout has paved the way for a potential rally toward $8.31, a critical resistance zone. Notably, the $4.00 level remains a strong support, ensuring a safety net for the bulls.
The technical indicators aligned with this bullish outlook. The Relative Strength Index (RSI) stands near 65, indicating there’s still room for upward movement before reaching overbought conditions. Simultaneously, the MACD has confirmed a bullish crossover, with the histogram reinforcing a growing positive trend. Consequently, the breakout appears to have both technical and market momentum behind it.
Source: TradingView