NEAR Soars 25% Amid Broader Cryptocurrency Uptick and AI-Driven Momentum
Near Protocol (NEAR) has seen a significant surge in price over the past day, climbing 25% to reach $4.30 on CoinGecko. This marks an impressive gain of 120% for the asset on a monthly basis.
The cryptocurrency market's recent uptick, with Bitcoin (BTC) reaching nearly $2,500 and Ethereum (ETH) clearing $2,700, is likely contributing to NEAR's price ascent. Additionally, American President Donald Trump's announcement regarding an 'AI Force' has boosted AI-related cryptocurrencies, including NEAR.
Analyst Michael van de Poppe described the asset's rise as 'fantastic,' but expressed doubts about its short-term sustainability due to potential liquidity shifts towards other narratives. He expects a consolidation or correction in price before another rally in Q4. Van de Poppe has been 'happily accumulating' NEAR at lower prices and considers it one of the easiest assets to hold.
CryptoBullet, on the other hand, is more bullish, predicting targets as high as $40 for NEAR based on a 'giant double bottom' macro structure. However, the asset's recent exchange netflow suggests that some investors may be shifting from self-custody to centralized platforms, which could lead to increased selling pressure.
The Relative Strength Index (RSI) has spiked above 91, indicating extreme overbought territory and potentially foreshadowing a move south. NEAR is currently trading at a record high RSI of 74, which remains in the bearish zone.