NEAR Protocol pushed through critical resistance levels on August 6, powered by a significant increase in trading volume and strong institutional interest, alongside promising cross-chain initiatives.
During a dynamic intraday session, NEAR’s price rose from $2.44 to $2.47 within an hour, surpassing the resistance level near $2.495. This breakout followed steady buying around $2.448 and was confirmed by a spike in volume—over 101,000 units traded at 13:31 UTC and over 150,000 units traded during the 13:36–13:40 UTC window. The token ended the day close to $2.466, establishing a fresh support zone and reflecting ongoing institutional demand.
Across a wider 23-hour timeframe, NEAR traded between $2.387 and $2.517, rebounding from earlier lows. The token’s daily volume surged to 3.44 million units, more than doubling the average, as investor interest strengthened. Analysts attribute the bullish momentum to expanding developer activity and cross-chain partnerships, including pilot projects with Cardano. With the price consolidating above $2.44, NEAR looks poised for further gains if current support holds.
Technical Highlights
- Price traded within a $2.387 to $2.517 range, marking a 5% swing during consolidation.
- Volume-supported floor formed near $2.390, with total volume reaching 3.44 million units.
- Key resistance levels at $2.454, $2.460, and $2.495 were breached.
- Price holding steady above $2.440, signaling a strong technical base.
- Volume surges over 150,000 units confirmed the breakout’s validity.
- New support established roughly 2% above the session open price.
Fueled by robust volume and encouraging ecosystem progress, NEAR Protocol is well-positioned for continued upward momentum amid broader market consolidation.
