Key Conclusions
- NEAR rose by less than 1% and is approaching $1.50.
- The positive performance comes despite weakness across the broader crypto market.
NEAR Intents Integrates with Starknet
NEAR, the native token of the Near Protocol, is trading at $1.48 per token, up by under 1% over the past 24 hours. Its modest gains come even as the wider cryptocurrency market remains under pressure.
The token’s resilience is linked to the integration of Near Protocol’s NEAR Intents platform with Starknet, a ZK execution layer that scales Ethereum, announced on Thursday. This integration brings intent-based, on-chain abstracted swaps into the Starknet ecosystem.
It also enables users to move seamlessly between Starknet and the broader crypto space without having to navigate a complex, multi-step process.
Built on the NEAR layer-1 blockchain, NEAR Intents allows users to swap assets from roughly 25 supported blockchains directly into Starknet. Additionally, users can acquire Starknet’s native token (STRK) using more than 100 tokens, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and others.
NEAR Eyes $1.60 Despite Pessimistic Market Conditions
The NEAR/USD 4-hour chart presents a cautious outlook as the token has added about 1% to its value in the last 24 hours. At the time of writing, NEAR trades at $1.48 and appears positioned for potential short-term upside.
The Relative Strength Index (RSI) on the 4-hour chart has risen to 36, signaling short-term bullish momentum. However, if the RSI remains in bearish territory, NEAR may struggle to sustain a move toward the primary resistance level at $1.80.
The Moving Average Convergence Divergence (MACD) indicator remains bearish but could generate a buy signal if the upward trend continues. Such a signal would occur if the blue MACD line crosses above the red signal line, encouraging traders to increase exposure.
If the recovery falters, NEAR could retest the $1.45 support level in the coming hours.