NEAR Protocol Rallies 8% on Robust Institutional Demand, Reclaims Key Support Level
During the 23-hour trading session from July 30 to July 31, NEAR Protocol saw a strong rebound, surging from a low of $2.52 to close at $2.73—an 8.27% gain driven predominantly by institutional investors.
On July 30, heavy selling between 18:00 and 19:00 UTC pushed NEAR down from $2.68 to $2.52 on a volume spike surpassing 9.6 million shares. This marked a critical support zone where institutional players actively accumulated the token. Overnight, these investors maintained defense of the $2.52 level, fueling a steady recovery.
In the final hour of trading on July 31 (09:05 to 10:04 UTC), NEAR’s price climbed 0.15%, breaking through resistance at $2.725 with repeated volume bursts over 28,000 shares at key intervals. This pattern indicates coordinated buying by sophisticated market participants positioning for NEAR’s potential growth in enterprise blockchain adoption.
Analysts view NEAR’s recent activity as reflective of a broader trend, where institutional capital flows increasingly target Layer 1 blockchains poised for enterprise integration.
Technical Snapshot:
- Trading range: $2.52 support to $2.74 resistance, representing nearly 8% volatility
- Volume surge: 9.6 million shares traded during July 30 selloff
- Accumulation zone: $2.52–$2.55 backed by institutional demand
- Final hour gains: 0.15% with consistent volume spikes over 28,000 shares
- Resistance at $2.725 decisively breached
- Net session gain: 2.87%
- Total rebound driven by institutional buying: 8.27%
