• The breakout from a symmetrical triangle and bullish RSI/MACD signaled sustained upward momentum.
• Open Interest surged 19.02%, while steady development activity reinforced long-term ecosystem growth.

NEAR ($1.56) Protocol [NEAR] has surged to a new milestone, hitting $244M in Total Value Locked (TVL) for the first time since July.

This achievement comes alongside a significant price jump of 10.82%, with NEAR trading at $6.35, at press time.

These metrics underscored growing confidence in NEAR’s ecosystem, but is this rally sustainable, or will it fizzle out?

NEAR’s breakout signals renewed momentum

The daily chart revealed an exciting breakout from a symmetrical triangle, a pattern often associated with strong directional moves.

This breakout has paved the way for a potential rally toward $8.31, a critical resistance zone.

Notably, the $4.00 level remains a strong support, ensuring a safety net for the bulls.

The technical indicators aligned with this bullish outlook. The Relative Strength Index (RSI) stands near 65, indicating there’s still room for upward movement before reaching overbought conditions.

Simultaneously, the MACD has confirmed a bullish crossover, with the h...