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NEAR Surges 8% as Altcoins Turn Bullish
The move comes amid a strong move across the entire altcoin market on Wednesday.
Updated Jul 16, 2025, 4:56 p.m. Published Jul 16, 2025, 4:55 p.m.
What to know:
- NEAR Protocol surged 3% in 24 hours from $2.60 to $2.68, extending its rally to 45% since June 17 amid growing optimism in altcoins.
- Bitwise’s AI angle fuels momentum, highlighting NEAR’s vision for “billions of AI agents” managing capital, contributing to the sector’s $33.64B market cap.
- Key levels and volume spikes observed, with resistance at $2.70-$2.72, support at $2.56-$2.62, and high trading activity peaking at 5.81M tokens.
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.
STORY CONTINUES BELOW
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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.
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- A decline in traditional markets might seem to point to further losses in crypto, but it could also be a bullish signal.
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