- After a period of heightened selling, spot traders have started buying again, leading to a surge in Total Value Locked (TVL)
- Positive sentiment has returned to the derivatives market, with NEAR showing signs of a potential price rally
NEAR has seen an 8.32% price increase in the last 24 hours, fueled by improving bullish sentiment
AMBCrypto’s analysis suggests a possible 50% price hike in the near future, depending on various market factors
Spot Traders Return to Buying NEAR
Spot traders have resumed buying NEAR, with over $474,000 worth of the token purchased recently
This buying activity follows a significant sell-off of $1 million the previous day, indicating a potential bullish trend
Source: Coinglass
Increased spot market buying is accompanied by liquidity inflows into NEAR protocols, suggesting a bullish outlook
The TVL has risen by $11.77 million, indicating renewed buying interest and long-term bullish sentiment
Positive Shift in Futures Market Sentiment
The Futures market is showing a shift in sentiment, with the OI-weighted funding rate turning positive after a period of negativity
A market rally could be on the horizon as the OI-weighted funding rate rises to 0.0036%
Source: Coinglass
Short contract liquidations indicate strong buying presence in the market, leading to potential price gains
Can NEAR Break Resistance and Rally?
NEAR is showing a bullish pattern and could rally by 53.85% if it breaks its current resistance level
Source: TradingView
Market sentiment is bullish, indicating a potential major upswing for NEAR in the near future