NEAR Price Poised for Breakout as Cross-Chain Milestone Surpasses $24 Billion

The NEAR Protocol (NEAR) price has been testing a key long-term resistance level after an extended accumulation phase. Analysts believe that a breakout above this level could signal a broader bullish trend and potentially lead to a significant increase in value.

In recent months, the protocol has seen rising adoption of its cross-chain infrastructure, which allows for faster transaction execution, enhanced pricing, and hassle-free cross-chain swaps. This has strengthened NEAR's position as a leading platform in the growing multichain decentralized finance ecosystem.

The data from NEAR Protocol shows that NEAR Intents now reaches the impressive $24 billion milestone in swaps settled by humans using the cross-chain solution. This represents an increased embrace of intent-based decentralized finance, which enables users to swap assets from one blockchain to another simply by describing the desired end result.

According to analyst noncler, NEAR is trading beneath a major long-term resistance level and has not yet broken out above the first resistance at $3.29. If buyers continue their domination, the next important support level to observe is $8.92. Crossing this level could show a change in the general trend and drive NEAR back to its previous consolidation zone.