NEAR Gains 8% as Traders Rotate Back Into Altcoins

NEAR Protocol Climbs as Altcoin Rally Strengthens on AI Hype

NEAR Protocol gained traction on Wednesday, rising from $2.60 to $2.68 over the last 24 hours amid broad strength across the altcoin market.

The token has surged 8% recently and jumped 45% since mid-June, fueled by growing optimism around altcoins and the expanding role of AI in crypto. AI-focused tokens have pushed the sector’s combined market cap to $33.64 billion.

Investor excitement grew after fund manager Bitwise shared plans for NEAR to deploy “billions of AI agents” to automate capital management and trading, helping spark Wednesday’s rally.

Market Highlights

• Price Range: $0.16 move representing 5.89% volatility on July 15–16
• Volume: Spiked to 5.81 million tokens at 14:00 UTC, more than double the daily average of 2.55 million
• Resistance: Encountered selling near $2.70–$2.72 during peak trading hours
• Support: Solid bids around $2.56–$2.62, confirmed by repeated retests
• Late Session Drop: Price fell from $2.71 to $2.68 (1.11% decline) between 15:06 and 16:05 UTC amid increased volume
• Sell Pressure: Volume bursts above 230,000 tokens seen at 15:16 and 15:36 during consolidation

Looking Ahead

With strong support holding, NEAR is positioned for a breakout if it surpasses $2.72 resistance. Continued interest in AI and altcoins could sustain the bullish momentum.