NEAR Protocol Rebounds 5% Before Late-Session Pullback Caps Gains
NEAR Protocol (NEAR) staged a 5% rally over a 24-hour period, briefly climbing from $2.47 to $2.60 before late-session selling pressure erased much of the momentum. The surge was driven by institutional inflows and broader market uncertainty that pushed investors toward alternative assets.
The rally gained steam around 10:00 UTC as NEAR broke through consolidation between $2.48 and $2.52, propelled by a spike in volume to 3.36 million—nearly three times the 24-hour average. The move marked a strong technical breakout, supported by accumulation patterns and elevated trading activity.
However, bullish momentum stalled near $2.61. A sudden spike in sell volume between 13:39 and 13:42 UTC led to profit-taking and a retracement to $2.60. The final hour of trading saw price action fall into a descending channel, suggesting short-term exhaustion as early gains were trimmed.
Macro Conditions Influencing Price Action
The pullback coincides with global macroeconomic uncertainty, including shifting monetary policies and trade tensions. As traditional markets react to geopolitical risks, digital assets like NEAR have seen renewed institutional interest.
Technical Summary:
- Price Range (24h): $2.47 – $2.61
- Closing Price: $2.60
- Volume: 3.36M (vs. 1.2M average)
- Support: $2.51
- Resistance: $2.61
Despite the late-session reversal, NEAR’s performance signals underlying demand and accumulation. Should macro tailwinds persist and resistance levels break, the next upside target sits between $2.65 and $2.70.
