NEAR Slides 3% as Late-Session Liquidations Breach Key Support
NEAR Protocol fell 3% over the past 24 hours, dropping from $2.84 to $2.75, as a wave of institutional sell pressure triggered a break below key technical support levels.
Market Overview
NEAR consolidated for most of the session between $2.67 and $2.86 — a 7% trading range — before sharp selling in the final hour pushed the token lower. A brief attempt to reclaim $2.78 was reversed as volume surged, leading to a 2% drop between 13:06 and 14:05 UTC on July 29.
Technical Breakdown
- Trading Range: NEAR moved within a $0.18 band ($2.67–$2.86), showing signs of market indecision.
- Resistance: Sellers consistently capped upside at $2.83.
- Support Breach: The $2.73–$2.75 zone initially held, but eventually gave way under liquidation pressure.
- Volume Spike: Over 175,000 tokens traded in just two minutes during peak selling at 13:50–13:52 UTC.
- Momentum Shift: Reduced volatility early in the session gave way to aggressive downside momentum near the close.
The abrupt breakdown marks a bearish turn for NEAR, with momentum indicators flashing caution. Traders now eye lower support levels as institutional outflows continue to weigh on price action.
