NEAR Rises 20% and Sets Sights on $3.77 Again

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NEAR stood out sharply against the backdrop of a weak crypto market. While the total capitalization of digital assets fell by 3.7%, the Near Protocol token gained almost 20% in a day and rose to $2.75.

The growth brought attention back to an old technical scenario. NEAR once again bounced off the historical bottom zone, which in previous cycles preceded strong rallies. Now the market is assessing whether the asset can reach the $3.40–3.77 range as early as June.

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NEAR Goes Against the Market

In recent weeks, NEAR has looked stronger than the largest assets, including Bitcoin and Ethereum. This is noticeable against the backdrop of the overall market decline, where investors are more cautious about risk and are reducing positions in most altcoins.

The reason for the interest in NEAR is not just the chart. Near Protocol is advancing infrastructure at the intersection of artificial intelligence, privacy, and cross-chain interaction. These topics remain among the most discussed in the crypto industry, especially when the market is looking for projects with clear technological applications.

In the short term, growth intensified after a rebound from a key support zone. For traders, this became a signal that NEAR could repeat part of the old scenario, when recovery from a multi-year bottom turned into a stronger move.

The Historical Zone Worked Again

On the weekly chart, NEAR once again bounced off the $0.90–1.10 area. This zone has already played an important role in previous cycles. After breaking out of it in 2021, the token rose by 2,375%, and in 2024, a recovery from the same range resulted in growth of about 900%.

The current cycle looks more modest, but the structure is similar. In February, NEAR once again formed a bottom in this zone, after which it rose by about 225%. Now the price is approaching a multi-year descending resistance line.

This very line previously stopped major rallies. Therefore, the coming weeks will be an important test. If NEAR can break through resistance, the market will have an argument in favor of continued growth. If not, some traders will start taking profits after a strong rebound.

The Growth Target Is in the $3.40–3.77 Zone

The nearest strong range for NEAR is around $3.40–3.77. It coincides with the 200-week exponential moving average and the 0.382 Fibonacci level.

From current levels, this gives a potential of about 25–40%. For the June scenario, this looks like a realistic target if buyers can maintain momentum and break through the nearest resistance.

However, before that, NEAR needs to consolidate above $2.61–2.72. This zone coincides with the 100-week exponential moving average and the 0.236 Fibonacci level. While the price is near it, the risk of a pullback remains high.

The Risk of a Pullback to $2 Remains

The technical picture for NEAR already looks strong, but not without overheating. The weekly RSI is around 68, which is close to the overbought zone. A breakout above 70 could increase the risk of short-term profit taking.

If NEAR cannot confidently break through the $2.61–2.72 range, the price may return to the 50-week exponential moving average. It is located at about $2. Such a scenario would mean a drop of about 30% from current levels.

This does not cancel the long-term recovery structure, but will cool the market after rapid growth. Such pullbacks are typical for altcoins, especially when the price quickly approaches strong technical zones.

NEAR Intents Strengthens the Fundamental Story

The fundamental argument in favor of NEAR is related to the development of NEAR Intents. This is a cross-chain transaction system that allows users to move assets between blockchains without manually working with bridges and fragmented liquidity.

According to DefiLlama, NEAR Intents has processed $19.69 billion in volume and generated about $32.64 million in fees. For the market, these are important figures because they show not only promises but also actual product usage.

Such metrics help NEAR stand out among altcoins. In a weak market, investors are more likely to choose projects with working infrastructure and clear network load. NEAR is now trying to take exactly this position.

The June Upgrade May Add Demand

An additional factor is the expected June network upgrade. It should introduce ‘dynamic resharding’ — a mechanism that automatically adds throughput as demand grows.

The point of the upgrade is for the network to scale without manual infrastructure management by users and developers. This is important for applications that need stable operation as load increases.

If the upgrade goes smoothly, it will strengthen the technical thesis around NEAR. The project will be able to show that it is ready for higher activity in AI, privacy, and cross-chain operations. This is not a guarantee of price growth, but it is an important fundamental backdrop.

Arthur Hayes Expects Strong Long-Term Growth

Additional attention to NEAR was drawn by a forecast from BitMEX co-founder Arthur Hayes. He believes that in the long term, the price of NEAR could increase 20-fold.

Such a forecast should not be seen as a short-term target. It rather shows that some large market participants see Near Protocol as one of the projects with potential for the next cycle. Especially if demand for AI infrastructure and cross-chain solutions continues to grow.

For this June, closer levels are more important. The market must first test the $2.61–2.72 range, then the $3.40–3.77 zone. Only after that can we talk about a stronger continuation of the trend.

What’s Next?

NEAR is at a point where the technical picture and fundamental backdrop have aligned. The token has bounced off a historical support zone, is showing strength against the market, and is approaching important resistance.

If the price consolidates above $2.72, the next target will shift to $3.40–3.77. This gives NEAR growth potential of up to 40% from current levels. This scenario will look especially convincing if the June network upgrade is successful.

If the breakout does not happen, the market may move to profit taking. Then the nearest reference point will be the area around $2. For now, NEAR remains one of the strongest major altcoins, but further growth depends on whether buyers can keep the price above the key resistance range.

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