NEAR Surges on Partnership with Ondo Finance, Traders Warn of Overbought Conditions
NEAR Protocol has announced a partnership with Ondo Finance to offer tokenized stocks and ETFs to eligible non-US users. This move will allow users on Near.com to swap stablecoins and supported cryptocurrencies for tokenized equities and ETF products, initially offering a subset of Ondo's tokenized assets.
The partnership brings 20 tokenized stocks and ETFs to the platform, with plans for broader expansion and cross-chain capabilities. NEAR trades firmly above its major moving averages, indicating strong bullish momentum across short-, medium-, and long-term trends.
However, overbought signals are emerging as momentum and buyers dominate. The Relative Strength Index (RSI) is at 80.60, the Stochastic RSI is above 88, and the Commodity Channel Index (CCI) is at 144.65. This suggests a risk of near-term pullback or pause.