- AI developments helped push NEAR Protocol sales past $1 billion.
- The price of NEAR coin broke more than a multi-year bearish trend.
- Eyes are now on support at $2.20 and resistance at $2.30 on the next move.
NEAR Protocol has risen almost 29% in the last 24 hours, making it one of the strong-performing large-cap cryptocurrencies on the market today.
The rally pushed the token to around $2.26 after trading as low as $1.73 earlier in the day.
NEAR’s trading activity also increased significantly, with daily volume approaching $1 billion as interest increased on major exchanges.
The value of the Near Protocol coin is rising
One of the main drivers behind recent Near Protocol prices is the growing interest in AI blockchain projects.
The NEAR Protocol has been closely related to the field of AI due to recent developments, including the integration of AI, goal-based learning, and tools designed for autonomous agents.
This work recent updates progress around his NEAR Legion project.
The concept focuses on allowing AI agents to interact with blockchain networks, perform transactions, and coordinate transactions without requiring constant human input.
This issue has started to grow as the field of information technology shifts its focus to AI systems.
In particular, NVIDIA CEO Jensen Huang has repeatedly discussed the future growth of AI in future applications and computing systems.
This trend has spread to the crypto market, where traders are now looking for blockchain networks that can support machine-to-machine exchanges and deploy AI platforms.
The NEAR Protocol has also expanded its Intents framework, which enables intermediate interactions and transactions.
This technology is designed to allow users or AI assistants to specify their needs instead of manually performing each step.
The market has responded positively to this development because it solves one of the biggest problems of crypto: user experience.
Another development that attracted attention this week was the launch of NEAR AI’s PII anonymization tool.
The software is designed to support the privacy of large data types by protecting sensitive information before it reaches AI systems.
Privacy-oriented AI architectures have become an important topic of discussion as companies and developers face growing concerns about data security and compliance.
The AI side of NEAR carries the brunt of the project’s leadership.
NEAR co-founder Illia Polosukhin previously co-authored the research paper “Knowledge Is All You Need”, which led to Transformer’s architecture that powers AI technologies such as ChatGPT and Gemini.
Researchers have cited this correlation as evidence that NEAR’s AI approach is more than just labeling.
Technical breakdowns and short-term withdrawals helped the conference
Beyond the topic of AI, technology products also played a major role in today’s conference.
NEAR has recently surpassed the multi-year lows since the 2022 bear market.
Analysts have been keeping an eye on the $1.90 resistance area as it has served as a ceiling in several previous tests.
When the indicator moved above the level, the momentum increased rapidly.
The explosion was accompanied by a sharp rise in the stock market, which is often seen as a confirmation that the move has a strong market share behind it.
NEAR also brought back a large amount of traffic to the conference, improving the overall performance of the brand.
Short-term closures fueled the move. Data from market sources showed that most of the cryptocurrencies that were tied to NEAR in the last 24 hours came from a few sources.
As the price continued to rise, traders betting against the token were forced to recoup their positions, causing it to surge higher.
STARTING price forecasts
The Near Protocol token has gained almost 60% in the last 30 days and is now up more than 43% in the last week.
However, despite this rally, NEAR is still well below the $20.44 level reached in January 2022.
The token is trading around 89% below that target, although it has recovered more than 325% from its November 2020 high.
Going forward, the first contribution is about $2.20.
Holding above this level can help maintain high risk in the near term. Below, the $1.90 level remains important as it has previously served as a resistance level.
On the other side, the same resistance is between $2.30 and $2.40 after the recent operation stopped near those levels.
A definite move above this area could open the door to reaching the $3.00 level, which many traders are now eyeing as the next major target.
