Large investors often shape market sentiment and liquidity, so their growing exposure to NEAR can signal increasing confidence in the token’s outlook.
When whale accumulation coincides with rising open interest and improving fundamentals, it may indicate that experienced market participants are positioning for a potential continuation of the broader uptrend.
BitMEX Whales Add to Bullish Positions
NEAR protocol has started to draw more attention to itself once again. As noted by the analyst CW, there is an increasing net position delta, which is supported by big BitMEX players.
Having dropped down to the level of about $2.10, the NEAR price managed to settle at the level of $1.93, with the buying pressure coming to the support area of $1.88-$1.90 and a price consolidation taking place.
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Long Positions Continue to Dominate
Net positioning is yet another indicator confirming the bull market position. The increase in the number of net long positions, which totals 27.09 million, indicates that investors still believe in further growth even in the face of retracement.
However, crowded long positions might lead to increased volatility in the case of a quick reversal. The coin faces resistance at $1.95-$2.00 in the near term; a break above this level would mean a potential move towards $2.10.
NEAR Seen as an Overlooked Long-Term Opportunity
According to Analyst Make Sense, the market does not understand the long-term prospects of the coin. The coin is still relatively low in the multi-year price range, making it an attractive risk-reward option provided that the entire crypto market continues to rise.
From the monthly chart, it is seen that the coin has been consolidating for almost three years since falling from its all-time high level of $20.50 in 2021.
The first primary target on the upside is approximately $8.96, a former distribution region that would amount to gains of about 454%.
Another significant resistance point will be the former all-time high level, estimated at about $20.50. Based on projections, it is said that if the token breaks above the high point, its next destination will be somewhere between $33 and $34, representing a profit of over 1,300%.
NEAR Builds Revenue and AI Infrastructure
A new development phase is beginning for NEAR. The protocol has more than $22 billion worth of volume on NEAR Intents, and its 30-day revenue capture rate stands at 30.5%, which is triple the rate seen a quarter ago.
There is a rising level of institutional interest in the protocol. This interest comes in the form of an agreement between Sovereign, a firm traded on Nasdaq, and NEAR, under which they plan to purchase up to 10% of the tokens.
The other firms that are working in this sector include Bitwise, 21shares, Grayscale, Virtune, and Valour. NEAR itself is working on its AI infrastructure in order to facilitate agent trading and cross-chain financing.
Can Ecosystem Growth Shape the Next Phase?
NEAR is at a critical juncture. If the buying continues to hold the crucial support levels and improve consistently, then the asset might make its way towards more resistance and even facilitate an uptrend.
However, if buying sentiment wanes, then the protocol is bound to continue consolidating for some time before any further moves occur. It will all boil down to whether there continues to be consistency in the market sentiment, volume, and ecosystem development of the coin.
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This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
