Can NEAR push past $2.70? – Identifying its KEY price zones
The post Can NEAR push past $2.70? – Identifying its KEY price zones appeared on BitcoinEthereumNews.com.
Key Takeaways NEAR Protocol traded near $2.70 resistance as dev activity, Funding Rates, and on-chain transactions signal rising trader and ecosystem momentum. NEAR Protocol [NEAR] is showing signs of renewed network vitality, with key metrics pointing to heightened ecosystem traction. Source: Nansen According to Nansen, HOT Wallet alone handled 2.9 million transactions in the past week, while core infrastructure and Ref Finance added 122K and 112K, respectively. Stablecoin volumes also gained attention, with Tether recording 42K transactions. This uptick reflects increasing user interaction across DeFi and retail fronts. As of this writing, NEAR traded at $2.67, up 5.38% on the day. This surge in ecosystem usage may prove pivotal in sustaining the asset’s current momentum. Is development activity fueling optimism for NEAR? According to Santiment, NEAR’s development activity is rising after a prolonged decline through late June and early July. While still below May highs, this recovery could signal builder re-engagement, often a precursor to renewed investor confidence in protocol-driven ecosystems. However, the uptick remains modest, and long-term momentum will depend on whether developer output continues in the coming weeks. Source: Santiment Technicals point to a breakout test NEAR has established a classic double bottom structure between $1.81 and $3.35, at press time, with the price hovering just beneath the mid-range resistance at $2.71. The formation often signals a bullish reversal, and the recent rally toward resistance strengthens this thesis. However, the Stochastic RSI has reached extreme overbought levels around 97, suggesting that upside could be temporarily capped. Traders may anticipate either a breakout above $2.71 or a pullback toward $2.40. Therefore, price action in the coming days will be critical in confirming NEAR’s direction after months of sideways movement. Source: TradingView Does THIS hint at a shift in derivatives sentiment? Funding Rates on Binance flipped positive this week and…
Filed under: News - @ July 16, 2025 11:29 pm