NEAR Protocol Rallies 4.20% with Increased Trading Volume and Ecosystem Growth
NEAR Protocol experienced a 4.20% increase in price, rising from $2.43 to $2.53 within a 24-hour trading session ending August 4. Key points include:
- The trading volume surged to 2.7 million tokens, over double the daily average.
- Institutional interest is growing, marked by high-volume accumulation and breakouts past key resistance levels.
- Aurora Labs presented five startups from its Aurora Blocks Incubator, enhancing NEAR's ecosystem.
- Subzero Labs secured $20 million funding, focusing on infrastructure development with Rialo.
- Solid support confirmed at $2.47 and high-volume resistance at $2.53.
Technical analysis highlights:
- Price volatility reached 4.48% during the session.
- Breakout occurred at midnight on August 4, moving from $2.45 to $2.50.
- Final hour saw the price rise to $2.52 with volume of 2.7 million tokens.
- Further 1.80% gain recorded in the last 60 minutes before session close.
- Targets for continued movement are set between $2.55 and $2.60.