NEAR Protocol Jumps 12% as AI Sector Takes Flight

NEAR Protocol posted a sharp rally on July 17-18, surging 11.6% from $2.81 to a session high of $3.04 before settling at $2.84.

The rally coincides with a broader resurgence in altcoins and AI-focused crypto projects, which are drawing capital inflows as traders rotate out of large-cap assets.

The broader altcoin market has entered what analysts describe as an “early-stage altcoin season,” with smaller-cap tokens outperforming bitcoin and ether.

AI-linked cryptocurrencies are leading gains as investors bet on emerging narratives in blockchain-based machine learning. NEAR’s price action reflects this sentiment shift, with institutional players focusing on high-potential protocols.

Support levels held firm at $2.70, while resistance formed near $3.03 as disciplined portfolio managers engaged in profit-taking. The data indicates measured participation by large players rather than volatile retail-driven spikes.

NEAR/USD (CoinDesk Data) ### Technical Analysis Highlights

• NEAR gained 11.6% from $2.81 to $3.04 during July 17-18 on institutional buying.
• Corporate support held firm at $2.70; resistance emerged at $3.03.
• A 1.05% pullback from $2.87 to $2.84 reflects portfolio rebalancing.
• Volume spikes over 317,000 units confirmed systematic selling pressure.
• Price consolidation below $2.90 suggests continued institutional positioning.

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.

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