Woofun AI reports that NEAR Protocol gained approximately 4% on Friday, defying a broader market sell-off and extending a rally that has pushed the token up nearly 80% since May. While Bitcoin trades near $70,000, NEAR's resilience is underpinned by surging futures activity and robust on-chain demand. Data indicates Open Interest jumped roughly 16% within 24 hours, with total futures positions reaching near $658 million. Positive funding rates confirm buyers are paying a premium to maintain long positions, reflecting expectations for further price gains.

Network activity is strengthening bullish sentiment through NEAR Intents, a multichain system enabling users to compare prices across several blockchains via a single interface. Since launching in Q1 2025, NEAR Intents has processed more than 25 million swaps with transaction volume approaching $20 billion.

Woofun AI data shows daily trading volume reached a 30-day high of $133.6 million in May, primarily driven by USDT, Bitcoin, and Ethereum.

Technically, NEAR formed a V-shaped recovery and currently trades above the 50, 100, and 200-day exponential moving averages. The Relative Strength Index sits near 72, indicating overbought territory yet sustaining buyer control. The MACD indicator supports continued upside by avoiding a bearish crossover. Current price action challenges the 78.6% Fibonacci retracement level near $2.68, with a potential breakout targeting the $3.00 psychological barrier and previous swing high around $3.18. Support levels are defined near $2.28 and $2.01. This technical setup suggests a decisive shift in market structure favoring upward momentum.