NEAR Protocol Shows Modest Recovery Amid Ongoing Market Challenges
NEAR Protocol (NEAR) experienced a slight recovery on July 30, moving from $2.62 to a high of $2.63, before closing at $2.62. This movement occurred despite ongoing downward pressure, indicative of a balance between new DeFi activity and market challenges.
Key highlights include:
- Trading volume peaked at 219,646 units at 13:57 UTC, suggesting institutional interest.
- RHEA Finance launched on LBank Exchange at 14:00 UTC, supported by $4.5 million in funding.
- NEAR's price dropped nearly 3% over 24 hours, from $2.70 to $2.63.
- Resistance remains at $2.73–$2.74, with support testing at $2.63.
- Intraday price range was $0.14, indicating a 5.1% swing.
- The market structure shows consolidation near support amid bearish conditions.
Overall, NEAR is positioned at the intersection of DeFi development and Layer 2 innovations but faces challenges in breaching key resistance levels for a sustained upward trend.