invezz.com 
$NEAR Protocol price has jumped nearly 28% over the past 24 hours to around $3.47 on Sept. 18, extending its seven day gain to more than 40% as trading activity surged alongside the launch of confidential perpetual futures.
$NEAR Protocol introduced confidential by default perpetual futures on near.com on Sept. 17, allowing traders to open positions without publicly linking the position to their account.
Hyperliquid provides the underlying execution and liquidity, while $NEAR's Confidential Intents infrastructure handles the privacy layer.
The product gives users access to more than 50 perpetual markets while concealing details such as position size, direction and entry time from public view.
The launch came as $NEAR's confidential finance products were already drawing more capital.
Confidential Intents crossed $70 million in total value locked on Sept. 15, automatically triggering the first snapshot under the $NEAR@3.33 incentive programme.
The snapshot allocated 333,333 milestone tokens to eligible participants.
Users need more than $100 in confidential balances and an active swap history to qualify for the programme.
The allocated tokens remain locked until $NEAR's three day volume weighted average price reaches at least $3.33, meaning the token's move above $3.33 on Sept. 18 does not by itself satisfy the unlock condition.
$NEAR traded as high as $3.50 during the latest move after climbing from below $2.80 over the past 24 hours.
Trading volume rose sharply during the breakout, while the token gained nearly 30% against Bitcoin over the same period.
Usage of the underlying Intents infrastructure has grown alongside the price move.
$NEAR's website reports more than $19 billion in cumulative Intents volume across more than 35 chains, while its revenue dashboard recorded around $5.01 million in gross fees and $1.58 million in net revenue over the past 30 days.
$NEAR price analysis
$NEAR's 4 hour chart shows price breaking through several Fibonacci extension levels in quick succession.
The token moved above the 1.618 extension at $2.782 and the 2.618 extension at $3.082 before clearing the 3.618 level at $3.382. See below.
$NEAR/$USDT 4-hour price chart. Source: TradingView.
Price reached $3.572 during the latest 4 hour candle, almost exactly matching the 4.236 Fibonacci extension at $3.568.
The $3.568 area is therefore the immediate level to watch.
A 4-hour close above it could open room for $NEAR to establish a new trading range above $3.57, with $3.60 becoming the next nearby psychological level.
Failure to hold above $3.382 would put the 2.618 extension at $3.082 back in focus, followed by $2.782.
Momentum on the daily chart has become stretched after the rapid move.
The relative strength index has climbed to 88.44, well above the conventional overbought threshold of 70, while its moving average stands at 69.31.
An RSI reading this high does not require an immediate price reversal, but it shows that the latest rise has pushed momentum far above its recent range.
On the daily chart, $NEAR has moved beyond the upper Bollinger Band at $3.144, with price near $3.50.
$NEAR/$USDT 1-day price chart. Source: TradingView.
The middle band sits at $2.347 and has started turning higher, while the lower band is around $1.549.
Trading above the upper band confirms the speed of the breakout, though the distance between price and the middle band has expanded sharply.
On balance volume has risen to around 771.18 million and is approaching the highs recorded during $NEAR's late May price spike.
The latest increase in OBV has occurred alongside a large expansion in daily trading volume, showing that the breakout has been accompanied by heavier buying activity.
A move above $3.568 would confirm a break beyond the highest Fibonacci extension currently visible on the 4-hour chart.
If price is rejected around $3.57 while the RSI remains above 80, $3.382 becomes the first level where buyers could try to hold the breakout.
A loss of $3.382 would expose $3.082, while a move below that level would bring the $2.782 Fibonacci extension back into play.
