NEAR Crypto Nears $2.55 Resistance Level
NEAR crypto has continued its upward trajectory and is now just $0.10 away from reaching $2.55, a significant milestone in its bullish run. The token's price has increased by 10% in the last 24 hours, while trading volume surged by 67% to reach $676 million.
The recent gains are attributed to buyers exerting pressure on NEAR after it broke out of a pennant consolidation formation. This breakout has been accompanied by an exponential surge in NEAR's Total Value Locked (TVL), which has crossed $185 million, indicating that more capital is being committed to the protocol.
With its price and trading activity accelerating, investors are optimistic about NEAR reaching $2.50. However, the rapid gains may lead to profit-taking around the psychological level of $2.55, potentially derailing the bullish momentum.
The long-term outlook for NEAR remains bullish, with its network TVL crossing $60 million and its price trading above all key Exponential Moving Averages (EMAs) at $2.43.