- NEAR Intents crossed $5B in volume, showing strong DeFi transaction activity
- Technical chart shows NEAR in wave (c) of 2 with resistance at $3.40
- Fibonacci support zones for NEAR price range from $2.04 to $1.55
NEAR Protocol is entering a crucial stage as both technical analysis and on-chain metrics show notable movement. Recent developments in its price pattern suggest a possible reversal while its Intents feature just surpassed $5 billion in all-time volume.
More Crypto Online reported that NEAR may have formed a key low on October 10, but this is yet to be confirmed. The confirmation depends on whether NEAR breaks through the $3.20 to $3.40 resistance area.
Technical Chart Reveals Key Wave Structure
On the 4-hour NEAR/USDT chart from Binance, a wave count is visible, and analysts say the price is currently in wave (c) of 2. The previous move from early November is labeled as wave (B), followed by a downward sequence forming the current correction.
Fibonacci extension levels place potential support between $2.04 and $1.55. These levels may offer entry points if the price continues down. Until NEAR moves above $3.40, traders are cautious, as the current wave count suggests the correction might continue.
More Crypto Online noted, “The price might have formed a meaningful low on October 10, but this will not be confirmed until the price breaks above the $3.20 – $3.40 area.” This resistance has now become a key focus for market participants.
Intents Volume Surpasses $5 Billion
While price action draws attention, NEAR Protocol also reported that its Intents feature has crossed $5 billion in total volume. This metric was shared on X by the NEAR team and further highlighted by investor Haseeb Qureshi.
Intents are designed to simplify complex DeFi actions across chains, allowing users to define transaction goals rather than execution steps. This helps developers create seamless user experiences for cross-chain liquidity and decentralized applications.
Data from Dune Analytics shows a sharp rise in activity since launch, with consistent volume growth over time. NEAR aims to make Intents a foundational piece of its infrastructure, targeting broader adoption in multi-chain ecosystems.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
