NEAR Price Soars 40%: Bullish Momentum Builds, What’s Next?
Near Price Blasts Off
NEAR price at $5.64 after a 38% rally left short traders unsettled, with over $2.23 million in contracts liquidated in a day.
Near Liquidation
First incident in three months involving $2.23 million of short contracts liquidated, signaling bear upset.
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Positive funding rates and rising TVL on NEAR protocol indicate a bullish sentiment and growing adoption.
Near TVL
TVL on NEAR rose 22.5% to $189 million within 24 hours alongside a price increase.
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Bulls must break $5.60 resistance to aim for $6.50 yearly high, with RSI overbought signal potentially leading to a correction.
Near/USDT 3-day chart
Historical data suggests losing support at $5.60 may lead to a downward trend in NEAR's value.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.