NEAR Protocol Advances as Altcoin Rally Gains AI-Driven Momentum
NEAR Protocol sustained its bullish momentum on Wednesday, climbing from $2.60 to $2.68 in a 24-hour span amid a strong surge across the altcoin market.
The token has rallied 8% in recent days and is up 45% since June 17, reflecting growing investor confidence in altcoins. This upswing coincides with heightened interest in AI-related crypto assets, whose combined market capitalization now totals $33.64 billion.
Adding to the optimism, fund manager Bitwise highlighted NEAR’s plan to deploy “billions of AI agents” to automate capital management and trading strategies, further energizing the token’s price action.
Technical Snapshot
- Trading Range: $0.16 (5.89% volatility) during July 15–16
- Volume Spike: 5.81 million tokens traded at 14:00 on July 16, over twice the average volume of 2.55 million
- Resistance: Encountered selling pressure near $2.70–$2.72 on heightened volumes
- Support: Strong support zone formed between $2.56 and $2.62, tested multiple times
- Late Session Activity: Price dipped from $2.71 to $2.68 (1.11% drop) between 15:06 and 16:05 amid elevated volume
- Sell-Off Volumes: Notable spikes above 230,000 tokens at 15:16 and 15:36 during consolidation
Outlook
With key support levels holding firm, NEAR looks poised for a potential breakout if it can overcome resistance at $2.72. Continued enthusiasm around AI applications and altcoin strength may fuel further gains.
