NEAR Protocol (NEAR) showed strong performance on Friday, rising 34% in the past 24 hours to reach $2.32, becoming the leader in the rally of AI-based tokens. This rebound is attributed to the upgrade of the NEAR network and NVIDIA's optimistic revenue forecast.
NEAR's price has increased by 50% compared to a week ago and has skyrocketed by 115% over the past 90 days.
Key Points:
- NEAR price reaches a six-month high
According to TradingView data, NEAR's recovery began on Monday, climbing 58% from a low of $1.48 to hit a six-month high of $2.34 on Friday.
Accompanying the price growth of NEAR is a surge in trading volume, which increased by 190% in the past 24 hours to $1.15 billion, further reinforcing buyer enthusiasm.
Source: X/NEAR Protocol
Source: Aurora
These developments showcase the ongoing technological advancements within the NEAR Protocol ecosystem, which may increase demand for block space and NEAR tokens.
NEAR Price Rises as AI Tokens Rebound
Today, not only did NEAR excel among AI-themed tokens, but other cryptocurrencies in the artificial intelligence sector also saw significant gains within 24 hours, including Grass (GRASS), OpenServe (SERVE), and Artificial Superintelligence Alliance (FET), which rose over 27%, 21%, and 11%, respectively.
Performance of top AI tokens ranked by market capitalization. Source: CoinMarketCap
Market capitalization and trading volume of AI and big data tokens. Source: CoinMarketCap
Source: X/Cointelegraph
Historically, NVIDIA's activities have triggered strong rebounds in NEAR's price; for instance, in February, NEAR surged 58% after the company released its Q4 fiscal 2025 earnings report.
How High Can NEAR's Price Go?
NEAR's latest rebound has broken through a long-term descending wedge structure that has constrained prices since the end of 2024.
The NEAR/USD trading pair now faces strong resistance in the $2.60-$3.00 supply zone, where major moving averages also reside, as shown in next week's chart.
If this level is breached, it will pave the way for reaching the wedge target price of $5.75, representing a 160% increase from the current price. The relative strength index has risen to 63, indicating an increase in upward momentum.
NEAR/USD daily chart. Source: X/Michael van de Poppe