NEAR Token Recovers After 5% Drop Amid High Volatility
NEAR experienced heightened trading volatility over the 24-hour period ending August 5, plunging 5% early in the session before staging a sharp recovery backed by institutional buying.
Volatility Spurs Technical Rebound
The token fell from $2.48 to $2.44 during a heavy morning selloff around 07:00 UTC, accompanied by a spike in trading volume to 3.2 million units — a clear sign of institutional exit flows. However, strong support at $2.44 held, prompting a swift rebound to $2.54 by session close.
The recovery formed a clear upward channel, with support settling near $2.52 and resistance building around $2.54.
Key Metrics and Price Action:
- Intraday range: $2.44 low to $2.57 high — a 5% swing
- Support confirmation: $2.44 held on heavy volume, signaling buyer interest
- Rebound strength: Price rallied 4% off lows within a seven-hour window
- Volume surge: 100,000+ units per minute traded between 13:33–13:39 UTC
- Late-session setup: Final hour saw a bullish pattern form, with a 1% upside move
- Pre-breakout behavior: Volume dropped to zero in the final three minutes, suggesting strategic positioning
Outlook:
The strong bounce off $2.44 and accumulation at higher levels suggest bullish momentum may extend, provided NEAR can break above $2.57. Continued volume support will be critical for confirming any breakout toward the $2.60–$2.65 zone.
