Can the NEAR price recoup $3 as the Golden Cross approaches?

NEAR Protocol is up more than 44% from its weekly low as AI-driven momentum, protocol upgrade optimism, and aggressive short-term liquidation push the token toward a major technical breakthrough.

According to data from crypto.news, NEAR Protocol (NEAR) rose from a weekly low near $1.47 to an intraday high of $2.10 before extending its gains to the $2.20 region on Thursday. The move comes as Bitcoin (BTC) and Ethereum (ETH) are trading in muted ranges due to renewed concerns about U.S. inflation and uncertainty surrounding the Federal Reserve’s next policy decision.

The new wave of capital circulation into artificial intelligence-linked crypto assets has emerged as one of the key catalysts behind NEAR’s outstanding performance. Nvidia’s stronger-than-expected quarterly earnings earlier this week reignited speculative demand for AI infrastructure tokens, particularly across projects related to decentralized computing, AI agents and data privacy.

Adding momentum, NEAR AI launched its automated personally identifiable information anonymization framework on May 20th. This feature addresses enterprise concerns related to data leakage and compliance risks by removing sensitive user information from prompts before users interact with external large-scale language models.

Market participants also responded positively to network upgrade 2.13, scheduled for June. The upgrade introduces post-quantum cryptographic signatures along with automated dynamic resharding via NEAR Intents. Developers say the system allows the network to automatically scale database shards during traffic spikes, potentially reducing congestion and improving institutional-level throughput.

At the same time, derivatives activity centered on NEAR also accelerated rapidly. According to data from CoinGlass, open interest has surged more than 63% in the last 24 hours to $629 million, while funding ratios have reversed very positively, indicating aggressive building of leveraged long-term positioning.

Meanwhile, clearing data from CoinGlass points to a significant short squeeze developing above the $2 level. The heatmap cluster showed a cluster of liquidation zones between $2.05 and $2.18, many of which were triggered by NEAR breaking through key resistance levels during the rally.

The latest move coincided with improving sentiment across altcoin markets following continued inflows into US spot Bitcoin and Ethereum ETFs earlier this week. Although the macro picture remains fragile, ETF demand has helped stabilize risk appetite after weeks of significant volatility due to rising oil prices and geopolitical tensions in the Middle East.

The crude oil market continued its upward trend as inflation concerns persisted amid continued uncertainty surrounding shipping activities near the Strait of Hormuz. High crude oil prices have complicated the Fed’s rate-cut path, and traders are now pricing in an environment of higher interest rates over a longer period of time.

Despite these macro headwinds, several analysts believe AI-linked crypto assets could continue to attract speculative flows regardless of broader market direction. Michaël van de Poppe, founder of MN Consultancy, said the AI ​​sector remains “one of the strongest narrative deals” in the cryptocurrency space, with institutional interest in decentralized computing infrastructure growing recently.

Is the Golden Cross Setting Up a Bigger NEAR Breakout?

On the daily chart, NEAR has broken above the descending trend line that has limited price movement since late January. The breakout accelerated after buyers reclaimed the Murrey Math 7/8 resistance area near $2.14, which served as a key reversal level in several failed rallies earlier this year.

More importantly, the 50-day moving average appears to be barely above the 200-day moving average. A confirmed golden cross marks the first major bullish trend reversal on NEAR’s daily timeframe since late 2025.

The chart also shows NEAR quickly advancing through the 5/8 and 6/8 Murrey Math areas after reclaiming the 4/8 major support and resistance pivot at $1.56 earlier this month. Bulls are currently attempting to establish support above the 7/8 “weak stop and reversal” level near $2.14.

If buyers maintain control above that area, the next major upside target is near the 8/8 resistance area around $2.34. A move above this level could open the door to a +1/8 overshoot area near $2.53, followed by an extreme +2/8 overshoot level near $2.73.

From a broader structural perspective, recovery of the psychological $3 level will require continued momentum beyond the +3/8 reversal zone near $2.93. In particular, NEAR has not consistently traded above $3 since the sharp correction following the AI ​​token rally earlier this year.

Momentum indicators also strengthened significantly during the recent breakout period. MACD has been bullish on the daily time frame recently and the price is currently holding firm above its 50-day moving average near $1.43.

Another large cluster of liquidations remains between $2.30 and $2.40, according to CoinGlass liquidation data. A decisive move through that area could trigger another wave of forced redemptions from bearish traders with excessive leverage.

At the same time, high funding rates suggest that parts of the market are already overheating in the near term. Historically, aggressive leverage build-up along the vertical often increases the likelihood of sudden volatility spikes or temporary declines.

What could invalidate the optimistic NEAR thesis?

Although the technical structure has been greatly improved, some shortcomings still remain.

A rejection below the $2.14 resistance area would weaken the theory of an immediate breakout and could potentially lead NEAR to pull back towards the $1.95 support area. A loss of that level could shift momentum back towards 5/8 Murrey Math support around $1.75.

Macro conditions also remain a major risk factor for cryptocurrency markets. Another surprising uptick in US inflation data or a further escalation in Middle East tensions could strengthen the US dollar and put pressure on risk assets, especially high-beta altcoins.

Meanwhile, broader altcoin participation continues to be limited as Bitcoin fails to recover from key resistance levels. A sharp correction in BTC below a major support zone could quickly erase speculative momentum across AI-related tokens, including NEAR.

Derivatives positioning presents another concern. Rising open interest rates and positive funding ratios initially supported the uptrend, but overly crowded long positioning increases the risk of liquidation if momentum stalls. In these scenarios, successive long liquidations often amplify downside volatility.

However, for now, NEAR remains one of the strongest performing large-cap altcoins on the market, and traders are closely watching whether the looming golden cross and continued AI narrative momentum could eventually lead to a return to the psychological level of $3.