NEAR Protocol: Short-term rally or bearish reversal, what’s ahead? – BitRss

• Recent trends show steady, measured growth for NEAR’s Total Value Locked (TVL).
• NEAR could see a brief rally before potentially dropping to the $2.45 level.

Over the past 24 hours, NEAR Protocol [NEAR] has emerged as one of the market’s top gainers, surging by 10.42%. This marked its first double-digit gain following a month-long decline of 25.79%.

Despite the recent upward momentum, a broader perspective reveals potential obstacles that could hinder further growth. If these barriers hold, NEAR might face a drop into lower price regions.

Consistency amid declining activity

According to DeFiLlama, the Total Value Locked (TVL) on NEAR Protocol has maintained a steady range, oscillating between $259.85 million and $236.58 million.

At press time, the TVL stood at $253.52 million. This range often indicates active participation, though it leaves room for either a significant rally or a sharp decline.