NEAR Price Gains Momentum with Double-Bottom Setup and Growing Ecosystem Activity
The NEAR price has caught attention due to its recent sharp recovery, and analysts have identified a potential macro double-bottom structure that could support further upside.
CryptoBullet highlighted a giant double-bottom formation on NEAR's macro chart, pointing to major levels of $8 and $20 as key references. The analyst also mentioned the possibility of NEAR reaching the $30-$40 range and potentially setting a new all-time high.
The recovery is significant, occurring after a phase of weakness and consolidation. To confirm the double bottom pattern, price needs to move beyond the level of resistance between the two lows.
NEAR Intents has also seen growing activity, with a total value locked (TVL) surpassing $207 million, according to MSB Intel. This increase in TVL provides further fundamental basis for the existing price structure for NEAR.