NEAR Protocol Holds Key Support After Volatile Swing as Institutional Inflows Signal Broader Resilience
NEAR Protocol saw heightened volatility between August 10–11, whipsawing through a $0.12 range before retreating in the final hour of trading. The token slid 0.98%, falling from $2.755 at 09:14 to $2.730 by 10:13 on August 11, as selling pressure mounted and resistance at $2.765 proved difficult to reclaim—even amid a notable 81,064-unit volume spike at 09:56.
Despite the late-session weakness, NEAR found footing at the $2.729–$2.730 support range, with consecutive zero-volume minutes into the close hinting at a possible short-term consolidation phase.
The session capped a volatile 23-hour window where NEAR fluctuated between $2.696 and $2.817. Although it recovered from intraday lows, it closed at $2.729—down 1.25%—as broader market sentiment remained cautious amid geopolitical tensions and shifting trade policies.
Still, institutional appetite for digital assets showed signs of strength. Investment products recorded $572 million in inflows last week, with Ethereum and Bitcoin leading the charge at $268 million and $260 million, respectively. Additionally, Apex Invest Digital’s collaboration with Coinbase Asset Management to launch a Swiss institutional program highlighted growing traditional finance engagement.
NEAR’s ability to hold key support levels could signal underlying strength—especially if macro headwinds stabilize. However, traders may wait for clearer catalysts before re-entering, as sentiment remains fragile.
Technical Breakdown
- Range Activity: NEAR traded within a $0.12 band (approx. 4%) between $2.696 and $2.817 over 23 hours.
- Intraday Rally: The token bounced from $2.71 to $2.82 by 02:00 on August 11, supported by a 3.99 million unit volume surge.
- Resistance Hit: A strong rejection occurred at $2.82, marking a key resistance zone.
- Late Drop: NEAR dropped 1% in the final 60 minutes, failing to hold above $2.76 despite a spike in trade volume.
- Support Zone: Price stabilized around $2.73, with back-to-back zero-volume minutes suggesting market fatigue and potential consolidation.
