#NEAR : I am bullish on it ⁉️
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I'm very bullish on NEAR Protocol right now, thanks to its recent price action and strong technical indicators. The chart reveals a solid uptrend with significant buy orders and consolidations, suggesting potential bot or institutional buying.
NEAR is not just any project; it's a promising AI initiative and a functional layer one blockchain. With a total value locked (TVL) of $630 million, it's a valuable asset in the crypto space. Even against Bitcoin, NEAR is holding up remarkably well.
From a technical analysis perspective, there's a notable bullish breakout on the NEAR/BTC chart. Open interest is on the rise, with both long and short positions being opened, and NEAR is maintaining its levels well, including the crucial 5.9 mark, despite Bitcoin's recent bearish trend.
I'm 90% confident that institutional buyers or whales are accumulating NEAR. Historically, NEAR has experienced strong rallies and consolidations before any significant drops.
Considering the current market conditions, including rumors of more ETFs and a generally favorable climate for crypto, I'm very optimistic about NEAR's future. The main support level for NEAR is around 5.5, with the next price targets being 6.6 and 6.8. While a Bitcoin pullback could affect NEAR, I believe it will continue its upward trend in the short term.
