NEAR Protocol Gains 5.82% Amid Strong Institutional Inflows
NEAR Protocol rose from $2.75 to $2.91 between 12 August 16:00 and 13 August 15:00, marking a 5.82% gain on trading volumes over $7.6 million. Institutional inflows contributed to breaking resistance levels and establishing support at $2.76. Volume spikes during breakouts exceeded twice the 24-hour average, positioning NEAR toward the $3.00 level.
In the final hour on 13 August, NEAR fluctuated between $2.94 and $2.88 before stabilizing around $2.90–$2.91. A selloff occurred at $2.94 with volumes exceeding 396,000, followed by reduced volume, indicating an equilibrium phase.
Market conditions favored NEAR as part of a trend in Layer-1 blockchain recovery. Global cryptocurrency products attracted $572 million in inflows, with NEAR drawing significant interest alongside Solana and XRP. The user base increased to 16 million weekly active participants, up 18.4%, surpassing Solana's 14.8 million, supported by partnerships with Aurora Labs and enhanced developer engagement.
Technical Indicators Overview
- Support established at $2.76 with high volume confirmation.
- Resistance identified near $2.94 with multiple rejections.
- Volume peaks surpassed 7.6 million during breakouts, well above the 3.5 million average.
- Upward trajectory with consistent higher lows indicates bullish sentiment.
- Resistance rejection pattern at $2.94 with substantial volume spikes exceeding 396,000.
- Consolidation around $2.90-$2.91 range with decreasing volume suggests temporary balance.