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NEAR Protocol Surges 8% Amid Altcoin Bull Run Driven by AI Token Rally
Coin WorldWednesday, Jul 16, 2025 1:03 pm ET
1min read
Aime SummaryNEAR Protocol, a prominent player in the altcoin market, experienced a significant surge of 8% over the past few days, reaching a price of $2.68 from $2.60. This upward trend is part of a broader bullish movement across the altcoin ecosystem, with NEAR Protocol leading the charge with a 45% increase since June 17. The rally is fueled by growing optimism and a broader artificial intelligence (AI) token rally, which has propelled the sector's aggregate market capitalization to $33.64 billion.
Bitwise, a fund manager, highlighted NEAR Protocol's vision for "billions of AI agents" managing capital and executing trades. This vision has added momentum to the rally, contributing to the sector's market cap. The technical indicators also support this bullish trend, with key resistance levels observed at $2.70-$2.72 and support levels at $2.56-$2.62. The trading activity peaked at 5.81 million tokens, significantly exceeding the 24-hour average of 2.55 million tokens.
The broader altcoin market has shown sustained upside, with data points suggesting continued growth. The high-volume surge and key resistance levels indicate a strong bullish sentiment, with multiple successful retests of support levels throughout the trading session. The final 60 minutes of the trading session saw a decline from $2.71 to $2.68, representing a 1.11% drop with a $0.05 intraday range. Despite this minor correction, the overall trend remains bullish, with sharp sell-off periods featuring elevated volume spikes.
In summary, NEAR Protocol's surge is part of a broader bullish movement in the altcoin market, driven by optimism and a rally in AI tokens. The technical indicators support this trend, with key resistance and support levels providing a clear picture of the market's direction. The high-volume trading activity and successful retests of support levels further reinforce the bullish sentiment, making NEAR Protocol a key player to watch in the altcoin ecosystem.
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