Near Protocol Volume Surges 43%, But Bulls Face Steep Hurdles

Near Protocol's trading volume has surged by more than 43% in just one day, sending shockwaves through the crypto market. The token itself remains stable between $1.90 and $1.92, but investors are now wondering if this surge signals the start of a new rally or is simply a brief spike in speculation.

Technically speaking, Near Protocol's structure is stronger than it was at the beginning of the year. After reaching highs above $2.80 during the May breakout and bottoming around $0.95 in February, the asset has maintained a steady recovery trend.

The 50-day EMA near $2.11 continues to be the main resistance level that bulls must overcome, while the 100-day EMA around $1.85 and the 200-day EMA near $1.80 offer support beneath the market. The overall recovery structure remains unaffected as long as Near Protocol stays higher than its longer-term averages.

Bulls still have work to do, however. Since the May peak, the token has been making lower highs; to break that pattern, a clear breakout above $2.10 would be required. Such a move could open the door to a retest of the $2.40, $2.50 area.