Near Protocol (NEAR) recovered above the short-term moving average after launching a new privacy execution layer. With the launch of this privacy protocol, the token ended its five-month-long downtrend. NEAR prices should appreciate to $2.50.
Near Protocol introduced a privacy execution layer called “Confidential Intents.” The layer gives privacy protection by hiding the transaction details during execution, helping prevent frontrunning, MEV (maximal extractable value) attacks, and strategy copying that exploits transparent transaction data.
NEAR distinguishes itself from privacy coins
Unlike privacy coins like Monero and Zcash, which hide transaction details, with NEAR’s privacy layer, users can switch between a public account and a confidential account in NEAR’s interface, which gives them privacy on demand for actions like transfers or withdrawals—with swaps planned next.
By shielding large transactions and positions from public view, the feature is designed to make on-chain markets more attractive for institutions and enterprises that need discretion similar to traditional finance.
Furthermore, as ‘Confidential Intents’ is part of NEAR’s broader NEAR Intents execution layer, it allows private cross-chain transactions across many networks without manual bridging while still ensuring cryptographically verifiable settlement.
NEAR breaks 5-month downtrend
The ‘Confidential Intent’ layer had a positive impact on the prices. NEAR prices were falling, making lower lows and lower highs since last September, forming the falling wedge pattern. This downtrend of price crashing for more than 5 months came to an end with the introduction of the layer, where the coin broke out from this pattern.
While rising from the falling wedge pattern, the coin also broke above the 50-day moving average, a short-term indicator. Priced at $1.30 at the time of writing, the coin is just at the beginning of the breakout, and the prices should further rise for the breakout to be complete. A conventional breakout from a fall should have the prices spike by the height of the wedge at its widest.
If NEAR follows the textbook-style breakout pattern, then it should rise above the 200-day moving average, which is close to $2.50.
