Key Highlights
- NEAR Protocol stock rocketed 26.52% within a single trading session, hitting approximately $2.19 and dominating the AI token sector
- Aggressive short liquidations totaling $5.8 million occurred at the $1.72 price level, fueling the squeeze
- The token shattered a critical multi-year descending resistance line not breached since 2024’s peak
- Strong NVIDIA quarterly results showing 85% revenue expansion year-over-year elevated optimism for AI-focused blockchain projects
- Prominent crypto analyst Michaël van de Poppe identified NEAR’s chart pattern as among the strongest in the current market
NEAR Protocol stock delivered an explosive 26.52% gain over a 24-hour period this Friday, climbing to the $2.19 level. This performance positioned NEAR as the dominant force among artificial intelligence-linked cryptocurrency assets.
The dramatic price surge originated from a textbook short squeeze scenario unfolding at the $1.72 resistance zone. Liquidations forced approximately $5.8 million worth of bearish positions to close, catapulting the token more than 70% above its recent monthly floor near $1.25.
Trading activity for NEAR Protocol stock exploded to $825 million across exchanges within 24 hours, representing a substantial 124% volume expansion. The project’s total market capitalization now stands at $2.84 billion.
Compared to competing AI-focused tokens, NEAR’s performance stood head and shoulders above the rest. Worldcoin managed a respectable 9.94% climb, FET posted 8.42% gains, while Internet Computer recorded a modest 3.31% increase. NEAR’s advantage over its nearest competitor exceeded 15 percentage points.
NVIDIA’s first quarter fiscal 2027 financial report, unveiled on May 20, demonstrated remarkable 85% revenue expansion compared to the previous year, delivering $81.6 billion in quarterly income. The tech giant simultaneously authorized an unprecedented $80 billion stock repurchase program and increased shareholder dividends. These developments strengthened overall market confidence in artificial intelligence infrastructure investments, extending benefits to decentralized AI initiatives including NEAR Protocol.
NEAR Protocol’s privacy-focused AI solutions operate on NVIDIA-powered Trusted Execution Environments, removing confidential information before routing queries to language models such as ChatGPT and Claude. The platform’s emphasis on its “Agentic Web” vision—where autonomous AI agents manage transactions, authentication, and blockchain interoperability—positioned it favorably during this sector rotation.
Additionally, NEAR Protocol recently implemented a significant tokenomics adjustment, reducing yearly inflation from 5% down to 2.5%. Revenue generated from protocol operations now finances NEAR token buyback programs.
Chart Pattern Signals Bullish Momentum
NEAR successfully penetrated a long-standing descending trendline that had constrained price action since the 2024 market cycle peak. Open interest metrics surged past $473 million, indicating substantial new capital deployment.
$NEAR still a great move, this one has held up better than most other coins. I think that this is still 1 of the best coins on the market pic.twitter.com/robzqHwmPV
— Altcoin Sherpa (@AltcoinSherpa) May 21, 2026
Technical analyst DonWedge initially identified a descending wedge formation on May 7, establishing a $3.00 projected target. He publicly validated the breakout confirmation on May 21. Elliott Wave projections from More Crypto Online establish Fibonacci-based price objectives at $2.30, $2.50, and $2.87. Short-duration moving averages spanning 10, 20, 30, and 50-period timeframes uniformly indicate bullish momentum.
Crypto analyst Michaël van de Poppe characterized NEAR Protocol’s chart structure as “one of the most bullish charts in the ecosystem,” projecting continued upward trajectory provided price maintains support above $1.40. He referenced NEAR’s expanding revenue metrics and the practical applications of NEAR Intents as fundamental drivers supporting his technical outlook. Fellow analyst Altcoin Sherpa endorsed the token as well, declaring it “still one of the best coins on the market.”
One of the most bullish charts in the ecosystem: $NEAR.
Resilient despite the recent correction on the markets, price already rallies towards new highs.
As long as this stays above $1.40, I would assume that there’s continuation on the board.
I remain to be expecting a $2.00… pic.twitter.com/mFzn0L8ZkV
— Michaël van de Poppe (@CryptoMichNL) May 19, 2026
Network Metrics Show Weakness
While price action remains compelling, blockchain usage statistics present a contrasting narrative. Daily active network participants plummeted from nearly 3 million users recorded earlier this year to approximately 266,000 currently. This deterioration accelerated following April and shows no signs of reversal.
Critical overhead resistance zones exist between $2.80 and $3.25. A confirmed weekly candle close surpassing this range could establish momentum toward $4.50 and higher targets. Immediate support protection exists at $2.20, with additional floors positioned at $1.80 and $1.50.
