NEAR Protocol has recorded four consecutive bullish sessions, supported by a governance proposal introducing a new Sovereign Fund financed with 30 million NEAR tokens. Whales and large holders have shown increased activity during the latest rally, accumulating exposure to the token. Funding Rates have remained positive for several weeks, indicating that long traders continue paying a premium to maintain their positions. On the technical side, NEAR is consolidating within a bullish pennant with support currently being defended at $1.60. If this trend continues, the next bullish target sits around $1.85, where a significant liquidity cluster is located.
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