NEAR Protocol is trading at $1.26, showing signs of a potential technical reversal amidst cautious market volume. Analysts highlight a bullish double bottom pattern forming, with a breakout above $1.23 potentially targeting a move toward $1.30 to $1.35. Concurrently, the network has launched a new Confidential Intents feature designed to provide privacy for cross-chain transactions and enhance institutional appeal.
NEAR Protocol recorded a 4.8% daily increase, bringing its price to $1.26. According to CoinMarketCap data, trading volume declined 12.07% to approximately $134.8 million, indicating cautious participation despite the upward movement.
Over the past week, NEAR remained relatively stable while posting a 7.09% gain. Analysts note that price behavior near key support zones often signals a transition phase, especially after extended bearish conditions.
Crypto analyst Trader Symba stated on X that NEAR is forming a double bottom structure on its 4-hour chart. The pattern suggests bearish momentum is losing strength after two failed attempts to push prices lower.
The key resistance level, or neckline, lies between $1.22 and $1.23. A confirmed breakout above this range could validate the bullish setup and shift short-term momentum in favor of buyers.
If sustained, the move may target Fibonacci retracement levels near $1.30 and $1.35. However, failure to break above resistance could lead to continued consolidation or a retest of the $1.15 support.
Alongside technical developments, NEAR Protocol introduced Confidential Intents. The feature enables private execution of cross-chain transactions to address challenges like frontrunning and MEV exploitation in DeFi.
The feature operates through a dedicated private shard connected to the NEAR mainnet. Users can execute transfers, deposits, and withdrawals with restricted visibility and switch between public and confidential accounts.
According to a statement from NEAR Protocol on X, the feature is intended to support institutional participation. It allows capital to move on-chain without revealing trading strategies and enables enterprises to manage sensitive financial operations privately.
