• NEAR Protocol’s AI expansion positions it for double-digit breakout and ecosystem-driven growth.
• Bullish sentiment and rising metrics signal NEAR’s readiness to challenge $9 resistance and beyond.

NEAR Protocol [NEAR] is capturing attention in the crypto space as its price continues to climb steadily. Recent developments, including its venture into artificial intelligence (AI), have contributed to heightened interest. 

Meanwhile, technical indicators suggest that a breakout into double-digit price levels may be on the horizon.

NEAR enters the AI sector 

NEAR Protocol has officially stepped into the AI industry with the introduction of NEAR AI, a suite of tools and platforms designed to integrate artificial intelligence into both web2 and web3 environments. 

Among these tools is the NEAR AI Assistant, currently in its alpha phase.

This AI Assistant provides users access to advanced AI features through chat.near.ai, enabling seamless connections between web2 and web3 services. 

By integrating AI agents capable of operating on behalf of users across digital ecosystems, NEAR aims to position itself at the forefront of AI-powered blockchain solutions. 

The AI sector’s growth, coupled with NEAR’s recent initiatives, positions the protocol to potentially capture a share of the expanding AI-driven market.

Strong price momentum and key levels

NEAR has displayed strong price action in recent weeks. As of press time, NEAR was priced at $7.78, reflecting a 1.27% increase in the past 24 hours and a 12.07% gain over the last seven days. 

Analysts are closely monitoring the token as it approaches key resistance levels.

According to crypto analyst Daan Crypto Trades, 

“NEAR is holding nicely on the retest and has been grinding higher.” 

The price recently found support at $6.46, a level that previously acted as resistance in August and November. This successful retest indicates strength in the uptrend. 

The next immediate resistance lies at $8.53, a level last tested in May and July. Breaking above $8.53 would position NEAR to challenge the cycle high of $9.05. 

A breakout beyond this threshold could propel the token into double-digit territory, with $10 being the psychological next target.

Derivatives market shows bullish sentiment

Data from Coinglass reveals robust activity in NEAR’s derivatives market. Over $1.35 billion in trading volume (+12.11%) and $539.58 million in open interest (+8.53%) suggest increasing participation and growing confidence among traders. 

The long-to-short ratio on Binance is heavily skewed, with 4.76 long positions for every short.

Liquidation data further emphasizes the prevailing bullish sentiment. In the past 24 hours, $2.09 million in liquidations occurred, with most of these positions being longs. 

While this indicates some volatility, the overall trend supports continued upward movement.

NEAR’s ecosystem growth supports positive outlook

Beyond price action, NEAR’s ecosystem is also expanding. Data from DefiLlama shows the protocol’s total value locked (TVL) is $350.57 million, representing a 4.46% increase in the last 24 hours. 

Additionally, stablecoin market capitalization on the network stands at $665.38 million, while daily fees and revenue total $33,615.

This combination of ecosystem growth, technical momentum, and strategic AI initiatives could place NEAR on the path to achieving double-digit prices.