- The average price has risen to $1.66 amid a notable rise.
- AI indices rose significantly, including Injective, Theta Network, and Akash Network.
- The NEAR feature shows a retest of $2 if the momentum is holding.
NEAR Protocol (NEAR) has traded strongly over the past 24 hours as bulls have been taking profits in the short term.
The rise of the token related to artificial intelligence coincided with the increase in AI tokens on Tuesday, while NEAR saw a significant increase in trading.
VALUE AROUND 32% increase in daily volume
NEAR is trading at $1.62, up nearly 7% over the past 24 hours and up nearly 4% on the weekly chart, although on Monday it dipped slightly below $1.50.
The price appreciation coincides with a 32% rise in daily volume, which daily puts the metric at $295 million at the time of writing.
In particular, these gains have allowed NEAR to outperform many of its peers as the broader market continues to improve.
Obviously, the exchange in projects linked to chain computing and sustainable ecosystems is driving forward.
A jump in AI-related indicators gave additional strength to Injective, Theta Network, and Akash, which posted gains of more than 5% in the last 24 hours.
Render also showed signs of looking for another test of opposition power.
Crypto AI is trading ahead of Nvidia’s first quarter results.
The richest companies will report on May 20, and crypto tokens have high hopes.
Nvidia CEO Jensen Huang recently visited China with President Trump, with the US president meeting with Chinese President Xi Jinping for a summit.
START price forecasting
Technical indicators indicate a short-term bias towards NEAR.
On the daily chart, price action is forming what appears to be a cap and handle.
This is a combination method that is usually pushed up as the handle settles on the new volume.
Near and right now trades above the major moving averages, the preferred arrangement of buyers. But that’s not all.
Momentum metrics support a visual, dynamic index (ADX) on a daily basis that points to bullishness.
Elsewhere, the relative strength indicator (RSI) is near 64, indicating the urgency of the area to increase appreciation before reaching the oversold area.
The Dynamic Oscillator and MACD indicators both show readings that are consistent with buying opportunities in the near future.
Price targets and risk levels
If the situation continues, NEAR may go above the $1.70 level.
Future targets for the near term could be $2.00 to $2.50, should volume continue its recent uptrend and cup and handle conditions are confirmed.
On the flipside, the first batch of support is about $1.50. This area shows an important consolidation area, below which would be $1.20.
