Altcoin Momentum Lifts NEAR Protocol, Up 8% on the Day

NEAR Protocol Extends Rally Amid Altcoin and AI Token Momentum

NEAR Protocol continued its upward momentum on Wednesday, fueled by a strong rally across the altcoin market and growing excitement around artificial intelligence integrations.

The token advanced from $2.60 to $2.68 over the past 24 hours, bringing its multi-day gain to 8%. Since June 17, NEAR has soared 45%, reflecting increasing confidence in the altcoin sector as investors rotate capital away from Bitcoin into high-growth projects.

Contributing to the surge was a post from fund manager Bitwise, which highlighted how NEAR plans to deploy “billions of AI agents” to autonomously manage capital and execute trades. The statement added further fuel to NEAR’s rally and helped boost overall sentiment around AI-linked crypto assets. The total market cap of AI-related tokens now stands at $33.64 billion.

Key Technical Developments

Intraday Range: $0.16 swing, or 5.89% volatility during the July 15–16 session
Volume Surge: Peak trading volume hit 5.81 million tokens at 14:00 on July 16, more than twice the daily average of 2.55 million
Resistance Zone: Price faced rejection near the $2.70–$2.72 level as sellers stepped in at elevated volumes
Support Levels: NEAR found strong buying interest around $2.56–$2.62, successfully retested multiple times
Late-Session Pullback: From 15:06 to 16:05, NEAR declined from $2.71 to $2.68 (a 1.11% drop) on heavy intraday trading
Consolidation Activity: Sell pressure was evident with volume spikes above 230,000 tokens at 15:16 and 15:36

Outlook

With NEAR holding support and building bullish structure, traders are watching for a confirmed breakout above $2.72. Continued AI integration narrative and broader altcoin strength could drive further upside if current momentum holds.