invezz.com 
According to data from CoinGecko, $NEAR Protocol ($NEAR) has climbed over 70% from its monthly low.
At the time of writing, the token was up nearly 22% in the past 24 hours and over 57% in the past 30 days.
What’s behind the rally?
While Bitcoin (BTC) and Ethereum (ETH) remained rangebound amid fresh concerns over US inflation and Federal Reserve policy uncertainty, speculative capital rotated heavily into artificial intelligence-linked crypto assets after Nvidia reported stronger-than-expected quarterly earnings.
According to Nvidia’s latest earnings report, the chipmaker posted $81.6 billion in revenue and $58.3 billion in profits, while CEO Jensen Huang said “Agentic AI has arrived” during the company’s earnings call.
The results reignited demand across decentralized AI infrastructure tokens, with $NEAR emerging as one of the strongest performers due to its growing association with AI-focused blockchain infrastructure.
At the same time, derivatives activity accelerated sharply after $NEAR broke above resistance near $1.72.
CoinGlass data showed open interest climbing more than 63% to roughly $629 million as funding rates turned strongly positive.
Nearly $5.8 million out of roughly $6.1 million in liquidations over the past 24 hours came from shorts, while another $2.4 million in bearish positions were wiped out within four hours as forced buybacks added further upside pressure.
Protocol-level developments also supported sentiment.
$NEAR AI recently introduced an automated anonymization framework that removes sensitive information before prompts interact with external large language models, while Network Upgrade 2.13 is expected to add post-quantum cryptographic signing and automated dynamic resharding through $NEAR Intents.
Additional support came from ecosystem expansion and tokenomics changes.
CoW Swap recently expanded to Solana using $NEAR Intents for cross-chain settlement, while a governance proposal approved in late 2025 reduced $NEAR’s annual inflation rate from 5% to 2.5%.
According to ecosystem data shared by the project, total value locked on the network has climbed more than 120% year over year alongside a 40% increase in developer activity.
Golden cross setup puts $3 back in focus
On the daily timeframe, $NEAR has broken decisively above a descending resistance trendline that had capped price action since late January.
$NEAR/USD 1-Day price chart. Source: TradingView.
The breakout accelerated after buyers reclaimed the $1.72 region, with the latest rally now pushing the price toward the 1.618 Fibonacci extension near $2.18 shown on the daily chart.
At the same time, the 50-day moving average has continued rising sharply toward the 200-day moving average, placing the market close to confirming a golden cross.
Historically, traders often view that crossover as a longer-term bullish reversal signal, particularly after extended consolidation periods.
Volume has also expanded aggressively during the breakout phase.
The latest daily candles closed near their highs with relatively small upper wicks, a structure that usually signals sustained buying pressure rather than immediate exhaustion.
The 4-hour RSI recently climbed near 88 while Chaikin Money Flow remained positive around 0.23, suggesting capital inflows have continued supporting the move despite overheated momentum conditions.
From a technical perspective, $NEAR now appears to be entering an area where liquidation-driven volatility could intensify further.
CoinGlass heatmaps cited in earlier reporting showed another large cluster of short liquidations stacked between roughly $2.30 and $2.40.
$NEAR 24-hour liquidation heatmap. Source: Coinglass.
A decisive breakout above that range could trigger another wave of forced buybacks from bearish traders, potentially accelerating the rally toward the next Fibonacci extension region near $2.60.
Beyond that, the psychological $3 level has started coming back into focus for traders watching the golden cross setup develop.
The chart shows $NEAR approaching price zones not seen consistently since the earlier AI-token rally correction.
Sustained momentum above the current breakout structure could open the door toward the $2.90 to $3 range if buying pressure remains intact.
Still, signs of overheating continue building underneath the rally.
The rapid move from roughly $1.70 to above $2.20 occurred with very little support formation in between, leaving the token vulnerable to sharp volatility if momentum slows.
Elevated funding rates and crowded long positioning also increase the risk of liquidation cascades on the downside if buyers fail to maintain control above the breakout region.
