• NEAR shows mild bearish pressure despite weekly gains.
• OceanPal invests $120M in SovereignAI to expand NEAR’s ecosystem.
• Technical indicators reflect weak buying activity and limited recovery.
• Major resistance lies near $4.21, signaling a potential reversal zone.

NEAR Protocol (NEAR) shows mild bearish sentiment as its value continues to decline. Over the past 24 hours, NEAR has dropped by almost 1.31%. However, on a weekly scale, the token has shown resilience, recording an impressive 4.67% surge, indicating sustained investor confidence.

Currently, NEAR is valued at $2.30, with a 24-hour trading volume of $216.82 million, marking a 12.26% increase in activity. Despite rising trading momentum, NEAR’s market cap stands at $2.94 billion, reflecting a 1.5% decline and suggesting mild selling pressure in the current session.

Also Read: NEAR Protocol Breakout Alert: Could NEAR Surge from $2.21 to $7.55?

OceanPal Boosts NEAR Ecosystem With $120M AI Initiative

OceanPal (Nasdaq: $OP) has successfully raised $120 million to introduce its new subsidiary, SovereignAI. The initiative is centered on advancing artificial intelligence infrastructure and expanding the commercial potential of the Near Protocol. This move highlights OceanPal’s growing interest in blockchain-based technological innovation and digital asset development.

Through SovereignAI, OceanPal plans to acquire up to 10% of NEAR tokens while building a dedicated NEAR Protocol treasury in collaboration with the Near Foundation. The intent is to promote ecosystem development and blockchain utility for all users while making OceanPal a key player in AI-based blockchain services.

Technical Indicators Suggest Resistance Ahead for NEAR

From a technical point of view, the token remains below key moving averages, signaling limited short-term recovery prospects. NEAR faces multiple resistance zones ahead. The first level of resistance is established by the 20-day SMA at $2.56, and then there is resistance from the 50-day SMA at $3.30. The key target is set at $4.21 and is based on the 200-day SMA, which is a key level of long-term resistance.

Momentum indicators remain neutral to bearish. The RSI (14) is currently placed at 43.59, which is below 50. It shows that there is less buying pressure. If this value dips below 40, sellers will take over. However, a break above 50 can indicate that recovery momentum has begun.

Overall, NEAR’s market trend still looks weak until it manages to recover and hold above $2.56. The first level of support is pegged at $2.20, and a strong level is established closer to $2.00. The decisive level to break above to experience a positive market shift is pegged at $4.21.

Also Read: NEAR Protocol (NEAR) Price Shows 7% Weekly Gain, Eyes $6 Long-Term Target