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By Oliver Knight, CD Analytics
Updated Jul 2, 2025, 3:27 p.m. Published Jul 2, 2025, 3:27 p.m.
- NEAR Protocol surged 7.6% from July 1-2, reaching a peak of $2.18 on exceptionally high trading volume.
- Bitwise launched a new NEAR Staking ETP on Deutsche Börse Xetra, offering investors exposure to NEAR blockchain with integrated staking benefits.
AI-focused NEAR token rose by 7.6% on Wednesday following an announcement from fund manager Bitwise on a NEAR staking exchange-traded product (ETP).
NEAR climbed from $2.09 to $2.13 between July 1-2, with a decisive breakout reaching $2.18 on high trading volume. This performance comes on the back of the announcement that could spur institutional interest in NEAR.
STORY CONTINUES BELOW
Technical analysis
- NEAR-USD exhibited a remarkable bullish reversal during the 24-hour period from 1 July 15:00 to 2 July 14:00, climbing from $2.09 to $2.13.
- A significant breakout occurred between 04:00-06:00 on 2 July when price surged to a peak of $2.18 on exceptionally high volume (4.56M and 3.76M respectively, far exceeding the 24-hour average).
- The overall range of $0.16 (7.6%) demonstrates strong buying momentum, with key support established at $2.02 and resistance at $2.17.
- Price consolidation above $2.11 in the final hours suggests the formation of a new support level that could serve as a foundation for further upside movement.
- In the last 60 minutes from 2 July 13:06 to 14:05, NEAR-USD exhibited notable volatility with a significant price surge between 13:40-13:48, reaching a peak of $2.15 before experiencing a sharp correction to $2.13.
- The price action formed a clear resistance level at $2.15 and support at $2.13, with volume spikes (131,013 units at 13:48) confirming the strength of the upward movement.
- The final consolidation around $2.14 suggests a potential new support level forming, with the closing price of $2.14 representing a 0.5% gain over the hour despite the mid-period pullback.
Oliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.
