The crypto community is talking highly about the Near Protocol network, even though the NEAR token has been rejected at the $3 resistance level. An analyst stated that it is far ahead of the rest of the chains and is not competing with them but is selling them a feature they can’t build themselves.
An analyst who goes by the pseudonym YashasEdu stated that the NEAR protocol is head and shoulders above the other chains, as they are providing a feature that the rest of the chains are not able to produce.
The confidential intents on the NEAR Protocol is a privacy-focused feature that allows users to execute transactions and cross-chain actions without publicly exposing important details such as trade size, routes, balances, or strategies. Instead of putting all transaction information into the visible public flow where bots can monitor it, the transaction is executed in a more private environment.
This can provide users, especially institutions and DeFi participants, with a more secure and private environment where they can carry out transactions without exposing important market information that could be exploited by others. This is the feature that sets NEAR above the rest of the chains, according to the analyst.
As shown in the chart above, NEAR tapped the $3 resistance level but was unable to push past it. However, the chart shows that there is a golden cross forming. A golden cross is a bullish technical indicator that occurs when a shorter-term moving average crosses above a longer-term moving average, signaling that momentum may be shifting toward an uptrend. The most commonly watched version happens when the 50-day moving average rises above the 200-day moving average.
It is considered important because the shorter-term average reflects more recent price action, while the longer-term average represents the broader market trend. When the shorter average moves above the longer one, it suggests that recent buying pressure is becoming stronger than the longer-term trend and that bullish momentum may be building.
Usually, when the golden cross forms, it will be followed by another big rally, which could take the prices from under $3 to new highs.