Near Price Selloff Continues as Sellers Maintain Control

The Near Protocol's Intents feature has reached $169 million in total value locked across 26 blockchains, generating $5.87 million in cross-chain execution fees.

This milestone reflects expanding cross-chain demand and utility, which could positively influence network value by supporting higher on-chain activity and fee-based revenue.

Despite this growth, the Near price continues to face selling pressure, trading below its key moving averages and facing technical resistance.

Momentum indicators, including MACD and ADX, are in sell mode, reflecting downside pressure. Both RSI and Stochastic RSI are oversold, as is CCI, suggesting that sellers may be losing momentum.