NEAR Protocol: 72% of traders bet on a rally, yet 2 signs suggest caution

Key Points

1. NEAR Protocol formed a double bottom at $1.85 but faces resistance at $2.13, with rising long liquidations tempering breakout confidence.

2. 72.19% of traders on Binance are long on NEAR, indicating aggressive bullish speculation but also potential liquidity risk.

3. Weighted Sentiment rose to +0.427, reflecting optimism, but funding rates flipping to +0.01% may signal overheating if longs continue to pile in without a breakout.

4. NEAR saw a net outflow of $2.22 million from exchanges, potentially strengthening the base for breakout attempts, but sharp inflows could weaken this case.

5. Long liquidations totaled $269.99K compared to $6.19K in short liquidations, suggesting bulls may have entered too early and could face a pullback.