The cryptocurrency market is buzzing with activity as $NEAR, the native token of the Near Protocol, shows signs of a potential breakout. On May 12, 2025, prominent crypto analyst Michaël van de Poppe shared an optimistic outlook on Twitter, stating that $NEAR could be gearing up for its next big run. This sentiment aligns with recent price movements and growing interest in scalable blockchain solutions. As of 10:00 AM UTC on May 12, 2025, $NEAR was trading at approximately $8.45 on Binance, marking a 7.2% increase over the past 24 hours, with trading volume spiking by 35% to $320 million across major exchanges like Binance and OKX, according to data from CoinGecko. This surge comes amidst a broader market recovery, with Bitcoin hovering around $62,000 and Ethereum at $2,950 during the same timeframe. The renewed interest in layer-1 protocols, especially those focused on scalability and low transaction costs, appears to be driving $NEAR’s momentum. Additionally, the stock market’s performance, particularly tech-heavy indices like the NASDAQ, which gained 1.3% to close at 16,340 on May 11, 2025, as reported by Yahoo Finance, is contributing to a risk-on sentiment that often spills over into crypto markets. Investors are increasingly looking at alternative blockchain solutions as tech stocks rally, creating a favorable environment for tokens like $NEAR.

From a trading perspective, the recent $NEAR price action presents several opportunities and risks. The 7.2% price jump within 24 hours as of May 12, 2025, at 10:00 AM UTC, suggests strong bullish momentum, but traders should remain cautious of overbought conditions. The $NEAR/USDT pair on Binance saw a significant volume increase, with over 38 million $NEAR tokens traded in the last 24 hours, reflecting heightened market participation. Cross-market analysis indicates a positive correlation with tech stocks, as institutional investors often rotate capital between high-growth tech equities and innovative blockchain projects. For instance, the NASDAQ’s 1.3% gain on May 11, 2025, coincided with a 5% uptick in $NEAR’s price during the same period, hinting at capital flow from traditional markets into crypto. This correlation offers trading opportunities, such as pairing $NEAR with Bitcoin or Ethereum to hedge against broader market volatility. Moreover, the growing interest in AI and decentralized infrastructure, often tied to projects like Near Protocol, could further amplify $NEAR’s appeal if tech stock momentum continues. Traders should monitor key support at $7.80 and resistance at $9.00 for potential entry and exit points in the short term.

Diving into technical indicators, $NEAR’s Relative Strength Index (RSI) stood at 68 on the 4-hour chart as of 12:00 PM UTC on May 12, 2025, on TradingView, indicating bullish momentum but nearing overbought territory. The Moving Average Convergence Divergence (MACD) also showed a bullish crossover, with the signal line crossing above the MACD line at 11:00 AM UTC on the same day, suggesting continued upward pressure. On-chain metrics further support this outlook, with data from Glassnode revealing a 12% increase in $NEAR wallet addresses holding over 1,000 tokens over the past week, recorded as of May 11, 2025. Trading volume for $NEAR/BTC and $NEAR/ETH pairs on KuCoin and Binance also rose by 28% and 22%, respectively, in the last 48 hours ending at 10:00 AM UTC on May 12, 2025, reflecting diversified interest across trading pairs. The stock-crypto correlation remains evident, as institutional money flow into tech ETFs often mirrors increased crypto volumes. For instance, a $150 million inflow into tech-focused ETFs on May 10, 2025, as reported by Bloomberg, aligned with a 10% spike in $NEAR’s trading volume on the same day. This suggests that institutional interest in tech innovation is benefiting $NEAR. Traders should watch for potential pullbacks if stock market sentiment shifts, as risk appetite could impact $NEAR’s short-term trajectory.

In summary, the interplay between stock market gains and crypto market dynamics offers a unique lens for analyzing $NEAR’s potential run. With tech stocks driving risk-on behavior and institutional capital rotating into blockchain projects, $NEAR stands to benefit. However, traders must remain vigilant of overbought signals and broader market volatility, ensuring they capitalize on cross-market trends while managing risks effectively.