NEAR Protocol Gains 5% as Trading Volume Triples Amid Bullish Momentum
NEAR Protocol (NEAR) rallied more than 5% in the past 24 hours, rising from $2.26 to an intraday high of $2.38, before consolidating around $2.34. The move reflects renewed trader interest and aligns with Bitcoin’s breakout above $112,000, setting a new all-time high.
The $0.12 gain represented a 5.04% increase, with notable market activity occurring at 7:00 PM on July 9, when trading volume surged to 4.62 million tokens—nearly three times the average hourly volume of 1.73 million. This volume spike helped establish strong technical support near the $2.29 level.
Following the rally, price action suggests the emergence of a new support zone around $2.34, pointing to potential accumulation and sustained bullish momentum.
Meanwhile, brief institutional profit-taking was observed between 3:41 PM and 3:42 PM, though the broader session showed consistent strategic buying—underscoring a generally bullish bias among market participants.
Key Technical Takeaways:
- Price Range: $2.26–$2.38, a 5% upside move.
- Volume Spike: 4.62M tokens traded at peak hour vs. 1.73M average.
- Support Zones: Primary at $2.29; short-term support forming at $2.34.
- Market Dynamics: Institutional activity mixed with continued accumulation signals strength.
With Bitcoin setting fresh highs, traders appear increasingly optimistic about altcoins, positioning NEAR among those potentially leading the next leg of the rally.
