NEAR has been gaining attention in the crypto market due to its undervalued status, according to Michaël van de Poppe, a well-known crypto trader. He considers it his top altcoin portfolio position, highlighting its potential for growth.
The trader notes that NEAR's Intents protocol has seen an increase in swaps, leading to higher revenue. This trend echoes the broader crypto market trends and indicates outperformance compared to peers.
The technical analysis of the 4h chart shows that NEAR trades at $1.57 within a bullish structure, with immediate support from the EMA50 at $1.52 and longer-term floors anchored by the EMA200 at $1.40.
The momentum sits neutral, but the MACD death cross at 0.02 suggests bearish pressure testing resolve. Price movement is confined to Bollinger Bands, with upper resistance at $1.65 and lower support at $1.50, indicating potential exhaustion if volatility spikes.