NEAR Rallies 90% in May as AI Narrative Builds
NEAR’s May Rally Marks a Partial Recovery
The NEAR token on Binance has rallied 90% in May and 60% YTD.
That said, this is still just a partial upward retracement – less than 50% – following a 70% downturn that played out through 2025.
AI Narrative and Network Upgrades Support Momentum
Analysts attribute the ongoing recovery to a confluence of technical upgrades and improving crypto market sentiment surrounding NEAR — specifically, it is being pushed as the go-to blockchain for AI agents and the agentic web.
The NEAR Foundation has launched an AI accelerator with Delphi Labs, including a privacy layer for AI that strips user data out of LLM queries.
A Dynamic Resharding upgrade is expected to come out in June, which is expected to address scalability constraints and make the network more adaptive to the demands of AI applications.
ETF Review and Nvidia Earnings Boost Sector Sentiment
In other news, the SEC is reviewing spot ETF applications filed by Grayscale and Bitwise, while the AI sector has seen renewed interest – particularly on the back of strong Nvidia earnings.
To remind, the tech giant posted $81.6 bn in Q1 revenue, up 3% from the consensus forecast, with EPS of $1.87 vs. $1.77 expected.
Arthur Hayes Adds Fuel to the NEAR Trade
Meanwhile, BitMEX co-founder Arthur Hayes has been talking up the token, calling NEAR, HYPE, and ZEC “the holy trinity” of altcoins.
Separately, Hayes touted a 20x return potential for NEAR by end-2027. This verbal intervention is lending additional support to the price action.
Technical Setup: Breakout Risk vs. Pullback Risk
Technically, NEAR has retraced towards the 23.6% Fibonacci retracement at $2.6.
The bulls continue to test this resistance level, and a confirmed breakout would unlock further upside with the next target at $3.4.
Notably, the regression channel still slopes downward on the weekly chart, while the price has broken above the upper bound of the regression channel on the daily timeframe.
Near-term, a corrective pullback towards $2.1 – and then $1.9 – could be in the cards.
Traders are advised to stay nimble and potentially opt for short setups with stop orders placed a tad above the resistance line.
