NEAR Falls 3% as Institutional Selling Breaks Key Support Levels
NEAR Protocol saw a 3% price decline over the last 24 hours, dropping from $2.84 to $2.75, as institutional liquidations broke through established support zones during the final hour of trading.
From Sideways Range to Sharp Sell-Off
Throughout most of the session between July 28 at 15:00 UTC and July 29 at 14:00 UTC, NEAR traded within a narrow $0.18 band between $2.67 and $2.86, indicating temporary market indecision. Resistance repeatedly formed near $2.83, while buyers provided limited support around $2.73–$2.75.
The trend shifted sharply in the final 60 minutes of the session. Between 13:06 and 14:05 UTC, NEAR dropped 2% from $2.78 to $2.73, breaking below critical support amid elevated trading volume.
Technical Breakdown
- Intraday Range: $2.67–$2.86 (7% volatility)
- Resistance: Firm ceiling at $2.83; multiple failed attempts to break higher
- Support: Initial floor around $2.73–$2.75; eventually breached
- Peak Volume: 175,000+ tokens traded during the steepest selloff window (13:50–13:52 UTC)
- Market Sentiment: Bearish shift marked by heavy volume and momentum-driven selling
The breakdown from consolidation highlights a shift in sentiment, with institutional players leading the exit. Unless buying volume returns, further downside could follow in the near term.
