NEAR Protocol Sees Surge in Institutional Attention Despite Bearish Trends
The NEAR Protocol has attracted significant institutional attention after over 500,000 tokens were staked for AI inference on its AI Cloud. This move allows for confidential inference on more than 40 models from prominent organizations like Anthropic, OpenAI, and Google.
According to analyst @CryptoMichNL, there is a disconnect between the expansion of the ecosystem and the current price action. With the price testing the upper Bollinger resistance at $2.55 while the RSI sits neutral at 44.64, a retracement to the 50-EMA support at $2.33 appears probable before further continuation.
Despite the broader bearish structure indicated by the MACD death cross at -0.02 and the 200-EMA floor at $2.03, sustained staking inflows suggest that fundamentals may override short-term technical pressure.