- NEAR token now live on Solana, enabling fast, low-cost cross-chain transactions
- Solana ecosystem increases NEAR liquidity and DeFi participation opportunities
- Technicals indicate support at $1.44 and resistance $1.67–$2.40, with a possible short-term bounce
The native token of the NEAR Protocol, the token, is now live on the Solana blockchain. The development will see users of the token gain access to the fast and low-cost environment offered by the Solana blockchain. This means that users of the two Layer 1 blockchain networks can access different decentralized applications.
This development represents the enhancement of the relationship between the NEAR ecosystem and the Solana blockchain as it improves on-chain usability and facilitates multi-chain connectivity. The bridge created by the two blockchain networks readies users for the opportunity to diversify by accessing novel applications or utilizing the DeFi solution offered by the Solana chain. This development represents the growing adoption of the use of multiple blockchain networks.
Also Read: NEAR’s December Momentum: Bulls Hope for a Solid 2025 Finish
NEAR’s Weak Bearish Momentum Signals Recovery
Technically, Over the last month, it can be seen that there was a clear downward trend in the value of the token, creating lower highs as well as lower lows. In the short term, the moving averages (20 MA and 50 MA) were below the respective long-term moving averages (100 MA and 200 MA), thus indicating the strength of the downward trend. However, a slight recovery took place around the $1.40 level, and current prices are around $1.55, with resistances at $1.67, $1.99, $2.31, and $2.40.
Source: TradingView
RSI (14) is at 39.55, which is near oversold regions, indicating that any selling momentum is slowing and that a pullback could be imminent. MACD is weak and slightly negative, with its line below the signal line, hinting that any fall momentum is also weak. Despite being under constant pressure to fall, both the RSI and a slight price rise indicate a possible recovery.
NEAR Eyes $1.44 Support for Possible Short-Term Bounce
Recently, the price had a slight bounce from the lower Bollinger Band at around $1.44, indicating possible support levels. As the midline, or the 20-day SMA, is at $1.67, it indicates that the price is still holding below the short-term average, thereby indicating continued bearish conditions.
Source: TradingView
The Awesome Oscillator indicates strong bear pressure, with the majority of the bars being red and below the zero line. The green bars correspond to small bullish instances that were not sustainable. The recent green bar indicates weakening bear pressure; however, it does not point to the end of the bear market. Key hurdles for NEAR are found around $1.67 and $1.90, with $1.44 acting as the support level.
Also Read: NEAR Protocol (NEAR) Eyes a $3 Target After Record 1M TPS and $7B Intents Surge
