NEAR Shows Potential Bullish Momentum After Double Bottom, $8 Target Possible
Main Idea
NEAR Protocol shows bullish momentum with a double bottom pattern, targeting $8, supported by strong technical indicators and robust fundamentals including high staking participation.
Key Points
1. NEAR Protocol has completed a double bottom pattern, a bullish reversal signal, with key support at $1.78 and resistance at $2.93.
2. The price is expected to target $8 if momentum sustains above $3, supported by indicators like the Relative Strength Index (RSI).
3. Over 583 million NEAR tokens are staked, offering a 9.5% APY, reflecting strong holder confidence and network security.
4. More than 300 active validators support NEAR's ecosystem, enhancing its long-term viability.
5. Staking reduces circulating supply and promotes price stability, crucial for NEAR's market strength.
Description
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