NEAR Shows Potential Bullish Momentum After Double Bottom, $8 Target Possible

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.