NEAR Protocol Tests Support Amid Market Volatility and Institutional Inflows
NEAR Protocol experienced notable volatility between August 10–11, fluctuating within a $0.12 range before closing lower as renewed sell pressure emerged. The token dipped 0.98% in the final hour of Monday’s session, falling from $2.755 at 09:14 to $2.730 by 10:13. A late attempt to reclaim the $2.765 resistance failed despite a sharp volume spike of 81,064 units at 09:56, leaving bears in control.
Key support between $2.729 and $2.730 helped stabilize the decline. Consecutive zero-volume minutes into the close suggested temporary exhaustion and potential consolidation ahead.
The session capped a volatile 23-hour stretch, during which NEAR swung between $2.696 and $2.817. Although it recovered from early lows, it closed at $2.729, marking a 1.25% decline. The whipsaw action reflected wider market caution amid ongoing geopolitical tensions and macroeconomic uncertainty.
Yet, institutional sentiment appeared resilient. Digital asset investment products recorded $572 million in inflows last week, led by Ethereum ($268 million) and Bitcoin ($260 million), signaling renewed confidence following recent payroll-related outflows. Apex Invest Digital’s new partnership with Coinbase Asset Management to launch a Swiss institutional program added to the momentum in traditional finance engagement.
Despite short-term pressure, NEAR’s ability to hold near support suggests a potential base may be forming—though traders are likely awaiting clearer signals before repositioning. With macro conditions still fluid, NEAR remains a proxy for broader crypto market sentiment.
Key Technical Highlights:
- Price Range: NEAR traded between $2.696 and $2.817 (a 4% swing) over a 23-hour period.
- Intraday Rebound: The token rallied from $2.71 to $2.82 by 02:00 on August 11, supported by a 3.99 million unit volume surge.
- Resistance Rejection: Price reversed from $2.82 after a high-volume test, confirming overhead resistance.
- Final Hour Weakness: A 1% drop occurred in the final 60 minutes, with resistance near $2.77 rejecting a recovery.
- Support Stabilization: The $2.73 zone absorbed sell pressure late in the session, with zero-volume minutes pointing to short-term consolidation.
