- NEAR price surged to $1.66 amid a notable volume spike.
- AI tokens bounced sharply, including Injective, Theta Network, and Akash Network.
- The near-term outlook for NEAR suggests a retest of $2 if momentum holds.
NEAR Protocol (NEAR) has traded higher in the past 24 hours as bulls eye near-term gains.
The uptick for the artificial intelligence-related token aligned with a broader AI tokens surge on Tuesday, with NEAR seeing a notable rise in trading activity.
NEAR price gains amid 32% spike in daily volume
NEAR is trading at $1.62, up about 7% over the past 24 hours and roughly 4% higher on the weekly chart despite Monday’s brief plunge beneath $1.50.
The price appreciation coincides with a 32% surge in daily volume, with intraday action putting the metric at $295 million as of writing.
Notably, that spike in activity has allowed NEAR to outpace many peers as the broader market navigates renewed downside pressure.
Likely, rotation into projects tied to on-chain compute and decentralized application ecosystems is driving the uptick.
The bounce in AI-related tokens provided additional strength to Injective, Theta Network, and Akash, each of which delivered gains of more than 5% in the past 24 hours.
Render also showed signs of eyeing a retest of a critical resistance level.
Crypto AI is trading up ahead of Nvidia’s first-quarter earnings results.
The industry heavyweight will report on May 20, and tokens across crypto are up amid broader anticipation.
Nvidia’s CEO Jensen Huang recently traveled to China with President Trump, with the US president meeting Chinese President Xi Jinping in a key summit.
NEAR price prediction
Technical indicators suggest a short-term bullish bias for NEAR.
On the daily chart, price action is forming what appears to be a cup-and-handle pattern.
This is a consolidation structure that often precedes continuation to the upside if the handle resolves on renewed volume.
NEAR also currently trades above major moving averages, an arrangement that typically favors buyers. But that’s not all.
Momentum metrics bolster the constructive outlook, with the average directional index (ADX) on the daily frame pointing to a strengthening trend.
Elsewhere, the relative strength index (RSI) sits near 64, indicating momentum with room for further appreciation before reaching overbought territory.
The Awesome Oscillator and MACD indicators both show bullish readings that align with a buying opportunity in the near term.
Price targets and risk levels
If bullish conditions persist, NEAR could extend above the $1.70 level.
Near-term upside targets would be in the $2.00 to $2.50 range, should volume maintain its recent lift and the cup-and-handle pattern get validated.
On the flipside, the initial support band lies around $1.50. The region marks a key consolidation zone, below which could be $1.20.