NEAR Surges 8% as Altcoins Turn Bullish

NEAR Protocol exhibited pronounced bullish momentum over the past 24 hours, ascending from $2.60 to $2.68.

NEAR is now up by 8% over the past few days having surged by 45% since Jun 17. The move reflects optimism across the wider altcoin ecosystem, with data points suggesting sustained upside.

A broader artificial intelligence (AI) token rally has propelled the sector’s aggregate market capitalization to $33.64 billion.

Fund manager Bitwise also published on post on X about how the Near Protocol would use “billions of AI agents” to manage capital and execute trades, adding fuel to Wednesday’s rally.

Technical Indicators Highlight Trading Patterns

• Overall trading range reached $0.16 representing 5.89% of the trading range during the 24-hour period under examination.
• High-volume surge of 5.81 million tokens occurred at 16 July 14:00, significantly exceeding the 24-hour average of 2.55 million tokens.
• Key resistance emerged at $2.70-$2.72 levels where price reversed on elevated volume during peak trading hours.
• Support consolidated around $2.56-$2.62 with multiple successful retests throughout the trading session.
• The final 60 minutes from 16 July 15:06 to 16:05 demonstrated a decline from $2.71 to $2.68 representing a 1.11% drop with a $0.05 intraday range.
• Sharp sell-off period featured elevated volume spikes exceeding 230,000 tokens at 15:16 and 15:36 during the consolidation phase.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.