NEAR Protocol achieved a significant breakout on August 6, surpassing important resistance levels thanks to strong trading volume, increasing institutional participation, and ongoing cross-chain development efforts.
During an intense intraday session, NEAR’s price jumped from $2.44 to $2.47 in under an hour, breaking through the critical resistance zone near $2.495. This move followed steady accumulation around $2.448 and was accompanied by a sharp rise in trading volume—over 101,000 units traded at 13:31 UTC and spikes above 150,000 units between 13:36 and 13:40 UTC. The token closed the day near $2.466, creating a fresh support level and reflecting strong institutional demand.
Over a broader 23-hour timeframe, NEAR traded between $2.387 and $2.517, rebounding from early lows with a surge that pushed daily volume to 3.44 million units — more than double its average. Analysts highlight growing developer engagement and cross-chain initiatives, including pilot projects with Cardano, as key factors driving NEAR’s positive momentum. With price consolidating above $2.44, the token remains poised for further gains if support holds.
Technical Snapshot
- Price ranged from $2.387 to $2.517, marking a 5% swing during consolidation.
- Strong volume-supported floor formed near $2.390, with 3.44 million units traded.
- Resistance at $2.454, $2.460, and $2.495 was successfully broken.
- Price stabilizing above $2.440, showing a robust technical setup.
- Volume spikes exceeding 150,000 units confirmed the breakout’s strength.
- New support established roughly 2% above the session open price.
Backed by solid volume and encouraging ecosystem developments, NEAR Protocol looks positioned for continued upward momentum amid ongoing market consolidation.
