NEAR Protocol is showing strong signs of a breakout, with technical indicators such as a symmetrical triangle pattern predicting a 40% increase.
The rise in open interest (OI), total value locked (TVL), and Bitcoin integration could push NEAR’s price up to $7.
NEAR Protocol Targets $7 While Awaiting Price Breakout
NEAR’s price is forming a symmetrical triangle pattern, with the price being squeezed between support and resistance levels.
If it breaks out of this level, the price could rise to $7. Conversely, if it falls below $4.800, the price could weaken and retreat to $3.500.
NEAR Protocol Strengthens Bitcoin Integration
NEAR Protocol has enhanced its integration with Bitcoin through versions such as wBTC, tgBTC, and kBTC.
This platform makes it easier for Bitcoin to operate within the NEAR ecosystem, thanks to Chain Signatures technology, offering users a more streamlined experience.
Open Interest and TVL Rising Strongly
NEAR’s open interest (OI) has increased by 4.8% over the past 24 hours, indicating growing confidence in its long-term potential.
NEAR’s TVL has also risen to $242 million, a 34.44% increase since August, showing significant market interest.
NEAR’s upcoming event in Bangkok this November is attracting attention.
