NEAR Protocol Closes Down 1.25% After Volatile Trading Session
NEAR Protocol declined by 0.98% in the last hour on Monday, dropping from $2.755 to $2.730 due to increased selling pressure. Attempts to surpass resistance at $2.765 were unsuccessful, despite a volume spike of 81,064 units. Support was found at $2.729–$2.730, which halted the decline, with zero-volume minutes indicating potential consolidation.
During a volatile period from August 10–11, NEAR traded between $2.696 and $2.817, closing at $2.729, down 1.25%. This volatility reflects broader caution in crypto markets amid geopolitical tensions and trade policy shifts.
Despite mixed short-term sentiment, digital asset investment products saw $572 million in inflows, primarily into Ethereum ($268M) and Bitcoin ($260M), signaling institutional confidence. Apex Invest Digital's partnership with Coinbase Asset Management for a Swiss program also indicates growing mainstream adoption.
NEAR’s support retention suggests potential stabilization, but traders may await fresh catalysts. Strong institutional inflows could mitigate macroeconomic impacts, yet the token remains sensitive to global events, serving as a barometer for overall crypto sentiment.
Key Technical Indicators
- NEAR exhibited volatility with a trading range of $0.12 (4%) during the August 10-11 session.
- The cryptocurrency recovered after declining to $2.71, rallying to $2.82 on high volume (3.99 million units).
- Resistance is noted at $2.82; support lies between $2.70-$2.71 with successful bounces.
- A final decline of $0.027 (-1%) was recorded from $2.76 to $2.73 in the last hour.
- Persistent selling pressure was evident, especially around $2.77 despite high volume.
- Support levels around $2.73 stabilized the decline, with market exhaustion indicated by consecutive zero-volume minutes.