NEAR Protocol Gains 8.27% as Institutional Investors Accumulate Positions
NEAR Protocol showed resilience during the trading session on July 30-31, recovering from a low of $2.52 to close at $2.73, marking an 8.27% rebound. This movement coincided with high trading volumes, indicating strategic accumulation by institutional investors.
Key highlights include:
- Institutional activity peaked on July 30 between 18:00 and 19:00, with a drop from $2.68 to $2.52 on a volume spike exceeding 9.60 million shares.
- The support level at $2.52 was defended by corporate traders, leading to a steady recovery through the night.
- On July 31, from 09:05 to 10:04, NEAR saw modest gains of 0.15%, with volume above 28,000 shares per transaction, pushing through resistance at $2.725.
- Strategic buys occurred at 09:17, 09:25, 09:52, and 10:01, indicating coordinated actions by investors anticipating long-term enterprise adoption.
Technical Analysis Summary:
- Trading Range: $2.52 (support) to $2.74 (resistance), with 7.83% volatility.
- Volume Spike: 9.60 million shares traded during the selloff.
- Institutional Accumulation Zone: $2.52–$2.55 identified as key support.
- Final Hour Trading (July 31 09:05–10:04): modest gain of 0.15%; volume >28,000 shares at strategic entries; resistance at $2.725 breached.
- Net Session Gain: +2.87% across 23 hours.
- Cumulative Institutional Rebound: +8.27% from $2.52 to $2.73.