NEAR Protocol (NEAR) is showing bullish momentum with a strong market structure and potential for further gains for the NEAR price if buying pressure continues. The network has expanded Confidential Execution to all developers, strengthening privacy-focused development, while growing ecosystem activity and adoption continue to support long-term confidence.
At the time of writing, NEAR is trading at $2.01 with a 24-hour trading volume of $234.5 million and a market capitalization of $2.62 billion. Despite the 2.73% loss over the last 24 hours, the NEAR price structure and network growth point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: NEAR Price Outlook: Can $1.90 Support Spark a 20% Rally?
NEAR Price Eyes $2.90 as Bullish Momentum Builds
According to the crypto analyst Altcoin Sherpa, the NEAR price is attracting bullish attention as its daily chart continues to show strength. Key exponential moving averages remain aligned in a positive trend, while the NEAR price consolidates around these levels, signaling healthy market structure.
Traders believe the asset remains one of the stronger-performing altcoins despite broader cryptocurrency market uncertainty and recent volatility overall.
Source: Altcoin Sherpa’s X Post
Analysts remain cautiously positive, indicating that the NEAR price has room to carry on with its uptrend if there is a pickup in the buying interest.
The immediate target for an upward move is seen around $2.40, and once the NEAR price breaks out of it successfully, a move towards $2.90 becomes possible.
NEAR Expands Confidential Execution Beyond Beta
The data from the crypto analyst Emperor Osmo further highlighted that the development of Confidential Execution by the NEAR protocol will be rolled out to all developers after a successful beta launch to expand its ecosystem.
It will allow for the creation of private dapps with increased security and execution abilities. This comes as a demonstration of the protocol’s dedication to improving blockchain technology.
Source: Emperor Osmo’s X Post
This news emerges at a time when NEAR Intents is demonstrating solid on-chain performance with a swap volume of $2.13 billion in the last 30 days, and the protocol is accounting for almost 90% of all app-level fees.
As the adoption rate is growing and with the ecosystem getting busier, analysts believe that intents’ volume will soon reach their previous ATH.
Despite the bullish price predictions and strong network growth, the NEAR price is still moving in a downward direction. This move is also impacted by the cautious market trend after BTC’s stabilization above $63,000.
What Could be Next for NEAR?
In case the positive trend becomes stronger, there is a possibility for the NEAR price to test the $2.40 resistance level before setting eyes on the $2.90 target level.
However, any increase in buying power and improvement in the mood and ecosystem development will confirm the bullish movement. However, low trading activity may result in delaying the breakout.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: NEAR Price Signals Long-Term Recovery as Analysts Eye $25 Breakout
