NEAR Protocol Rises 5% as Trading Volume Soars, Riding Bitcoin’s Momentum
NEAR Protocol (NEAR) saw strong gains in the past 24 hours, climbing from $2.26 to a high of $2.38 before settling around $2.34. The surge reflects growing optimism in the crypto markets, coinciding with Bitcoin’s new record above $112,000.
NEAR’s $0.12 move translated to a 5.04% increase, fueled by a surge in trading activity. At 7:00 PM on July 9, trading volume spiked to 4.62 million tokens, nearly triple the average of 1.73 million, signaling heightened market interest and establishing support at $2.29.
As the price cooled slightly, a new support zone appeared around $2.34, suggesting traders may be preparing for further upside moves.
Despite brief moments of institutional profit-taking between 3:41 PM and 3:42 PM, the session was marked by continued strategic buying, underscoring bullish sentiment toward NEAR.
Key Technical Details:
- Price range: $2.26 to $2.38, a 5% rally.
- Peak trading volume: 4.62 million tokens, well above the 1.73 million average.
- Strong support levels established at $2.29 and $2.34.
- Institutional flows indicate profit-taking amid broader bullish momentum.
With Bitcoin setting fresh highs, traders are increasingly watching altcoins like NEAR for potential breakout opportunities in a rising market.
