NEAR Protocol (NEAR) Price: Token Jumps 20% While the Rest of Crypto Falls — What’s Next?

TLDR

• NEAR rallied nearly 20% in 24 hours to trade as high as $2.75, outperforming the broader crypto market
• The token bounced 225% from a historical support zone of $0.90–$1.10, last seen before major 2021 and 2024 bull runs
• Primary upside targets are $3.40–$3.77, aligned with the 200-week EMA and the 0.382 Fibonacci retracement
• NEAR Intents has processed $19.69 billion in volume and generated $32.64 million in fees
• A June network upgrade introducing dynamic resharding is expected to improve scalability

NEAR has been one of the stronger performers in the crypto market recently, posting gains while the broader market has pulled back. The token of the Near Protocol blockchain, which focuses on AI and privacy infrastructure, traded as high as $2.75 on Tuesday — a nearly 20% jump in 24 hours. During the same period, total crypto market capitalization fell by 3.7%.

The rally builds on a 225% bounce from a multi-year support zone between $0.90 and $1.10, where NEAR found a bottom in February.

That same support zone preceded two major rallies in previous cycles: a 2,375% rise in 2021 and a 900% gain in 2024. The current pattern is smaller in scale but structurally similar, according to chart analysis.

Open Interest in NEAR derivatives rose 11.6% in a single day, showing that traders were adding long positions. The funding rate had spiked during aggressive buying on May 31 but returned close to neutral by June 2, which analysts view as a sign of a more stable rally rather than an overheated one.

Price Targets and Key Resistance

The main upside target is the $3.40–$3.77 range. This area aligns with NEAR’s 200-week exponential moving average and the 0.382 Fibonacci retracement level, representing a potential gain of 25%–40% from current levels.

Before that, NEAR faces a supply zone between $2.80 and $3.00. This area has been flagged as a point where bearish reactions are possible, based on higher timeframe price structure. The weekly swing high sits at $3.34.

On the downside, a loss of the $2.01 level would signal a shift to bearish structure on the four-hour chart. A pullback to the 50-week EMA around $2 remains possible if resistance holds.

Crypto analyst Michaël van de Poppe posted his take on NEAR’s setup on social media. He wrote that NEAR had broken upward and was holding its gains despite broader weakness in Bitcoin. He said the token had made a higher high and was flipping a key area into support. He noted he was taking a smaller position due to Bitcoin’s fragile state, but that if Bitcoin does not fall further, NEAR could push to new highs and target $3 or above in the near term.

The weekly RSI is sitting near 68. A move above 70 would put NEAR in overbought territory, which has historically been followed by consolidation or a short-term pullback.

Fundamentals and June Upgrade

On the fundamentals side, NEAR Intents — a cross-chain transaction system allowing users to move assets between blockchains without bridges — has processed $19.69 billion in total volume and generated $32.64 million in fees, according to DefiLlama.

A network upgrade is expected in June that will introduce dynamic resharding. This feature automatically adds capacity to the network as usage grows, removing the need for developers to manage infrastructure scaling manually.

BitMEX co-founder Arthur Hayes has previously stated he expects NEAR to deliver a 20x return over the long term.

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