NEAR Tests $1.50 After Plasma Upgrade Accelerates DeFi Trading
Plasma officially integrated NEAR Intents on Friday, 23rd January, enabling high-volume on-chain settlements with CEX-level pricing, potentially accelerating its adoption in DeFi.
This upgrade bridges traditional trading infrastructure and decentralized finance (DeFi), offering a scalable and cost-efficient solution for complex asset swaps and automated liquidity strategies.
With support for over 125 assets, Plasma makes it possible for developers to execute intricate trading strategies with minimal slippage. Analysts have noted that this development may hasten the adoption of NEAR-based DeFi, which will guarantee execution and lower operational costs.
Also Read: NEAR Breaks Above 21-Day Moving Average, Signals Shift in Short-Term Trend
NEAR Lost Ascending Channel Amid Bearish Pressure
Despite this major upgrade, the Near Protocol’s native token, NEAR, is still moving under bearish pressure. According to the crypto analyst CryptoPulse, as of Monday, January 26, the token has started exhibiting signs of structural weakness as the token broke below its ascending trendline.
The asset is testing the $1.50 level, which earlier served as a support for the token. This area is being closely monitored by traders, and any rejection at this point could lead to a decline in the cryptocurrency’s price.
Source: CryptoPulse X Post
If this retest at $1.50 fails to hold, the token price may extend its decline to the $1.30 to $1.35 price range, which has historically been a key level of support. This is where buyers may be stepping in to buy the asset.
NEAR Eyes $1.50 After Stabilizing Around $1.45
According to TradingView, as of Monday, January 26, the asset has been trading around $1.46. It can be noticed that the token has been continuing its recent downtrend, which started from the $1.70 level. It can also be observed that the token has formed lower highs and lower lows over the past two weeks, with a small consolidation around $1.45 acting as support.
Source: TradingView
However, the MACD indicates that the signal line and MACD line are converging, indicating weakening bearish momentum. In addition, the RSI is currently around the 40 mark, indicating that the asset may not be overly oversold. Therefore, the selling pressure may be subsiding. There is resistance at $1.50, while support is around the $1.44-$1.45 region.
Also Read: NEAR Protocol Records $677M Intents Activity as Bulls Watch $2.20–$2.30.
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