Key takeaways
- NEAR is up by less than 1% and is approaching $1.5.
- The positive performance comes despite the broader crypto market underperforming.
NEAR Intents integrates with Starknet
NEAR, the native coin of the Near Protocol, is trading at $1.48 per coin, up by less than 1% in the last 24 hours. Its positive performance comes despite the massive selloff in the broader cryptocurrency market.
The coin bucked the trend thanks to Near Protocol’s NEAR Intents platform integration with Starknet, a ZK execution layer scaling Ethereum on Thursday. The integration effectively brings chain-abstracted, intent-based swaps into the ecosystem.
It also allows users to seamlessly transition between Starknet and the broader cryptocurrency space without having to bridge or go through a complex multi-step process.
NEAR Intents is built on the NEAR layer-1 blockchain, allowing users to swap assets from approximately 25 supported blockchains directly into Starknet. Furthermore, users can also purchase Starknet (STRK) using over 100 tokens, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and more.
NEAR eyes $1.6 despite bearish market conditions
The NEAR/USD 4-hour chart is bearish and efficient as the coin has added roughly 1% to its value over the last 24 hours. At press time, NEAR is trading at $1.48 and could rally higher in the near term.
The Relative Strength Index (RSI) has increased to 36 on the 4-hour chart, confirming a short-term momentum. However, if the RSI remains within the bearish region, NEAR cannot sustain a rally towards the major resistance level at $1.80.
The Moving Average Convergence Divergence (MACD) indicator is still bearish but could flash a buy signal once the upward trend continues. This signal manifests with the blue MACD line crossing above the red signal line, encouraging traders to increase their exposure in this market.
However, if the recovery fails, NEAR could retest the $1.45 support level over the next few hours.
