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By Oliver Knight, CD Analytics
Updated Jul 16, 2025, 4:56 p.m. Published Jul 16, 2025, 4:55 p.m.
- NEAR Protocol surged 3% in 24 hours from $2.60 to $2.68, extending its rally to 45% since June 17 amid growing optimism in altcoins.
- Bitwise’s AI angle fuels momentum, highlighting NEAR’s vision for “billions of AI agents” managing capital, contributing to the sector’s $33.64B market cap.
- Key levels and volume spikes observed, with resistance at $2.70-$2.72, support at $2.56-$2.62, and high trading activity peaking at 5.81M tokens.
NEAR Protocol exhibited pronounced bullish momentum over the past 24 hours, ascending from $2.60 to $2.68.
NEAR is now up by 8% over the past few days having surged by 45% since Jun 17. The move reflects optimism across the wider altcoin ecosystem, with data points suggesting sustained upside.
STORY CONTINUES BELOW
A broader artificial intelligence (AI) token rally has propelled the sector’s aggregate market capitalization to $33.64 billion.
Fund manager Bitwise also published on post on X about how the Near Protocol would use “billions of AI agents” to manage capital and execute trades, adding fuel to Wednesday’s rally.
Technical Indicators Highlight Trading Patterns
- Overall trading range reached $0.16 representing 5.89% of the trading range during the 24-hour period under examination.
- High-volume surge of 5.81 million tokens occurred at 16 July 14:00, significantly exceeding the 24-hour average of 2.55 million tokens.
- Key resistance emerged at $2.70-$2.72 levels where price reversed on elevated volume during peak trading hours.
- Support consolidated around $2.56-$2.62 with multiple successful retests throughout the trading session.
- The final 60 minutes from 16 July 15:06 to 16:05 demonstrated a decline from $2.71 to $2.68 representing a 1.11% drop with a $0.05 intraday range.
- Sharp sell-off period featured elevated volume spikes exceeding 230,000 tokens at 15:16 and 15:36 during the consolidation phase.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
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.
