NEAR Protocol Shows Strong Institutional Support, Climbs 8% From Key Support Level
During the 23-hour trading window spanning July 30 to July 31, NEAR Protocol demonstrated significant institutional buying pressure, pushing its price from a low of $2.52 up to $2.73—a robust 8.27% gain.
On July 30, between 18:00 and 19:00 UTC, NEAR saw a sharp decline from $2.68 to $2.52 amid a surge in volume exceeding 9.6 million shares, establishing a critical support zone. This level was actively defended by institutional investors, who steadily accumulated positions throughout the overnight session.
The final hour of trading on July 31 (09:05 to 10:04 UTC) further confirmed institutional interest. Despite a modest 0.15% price rise during this period, strong volume surges above 28,000 shares at key moments—09:17, 09:25, 09:52, and 10:01—helped NEAR break through resistance at $2.725. This suggests coordinated accumulation by large-scale traders anticipating long-term growth linked to NEAR’s enterprise blockchain initiatives.
Experts note that NEAR’s performance exemplifies a larger trend of institutional capital flowing into Layer 1 blockchain projects with strong enterprise integration prospects.
Technical Highlights:
- Price Range: $2.52 support to $2.74 resistance, representing nearly 8% price movement
- Volume Spike: 9.6 million shares traded during July 30 selloff
- Institutional Buying Zone: Identified at $2.52 to $2.55 support level
- Final Hour Activity: Price gained 0.15% with multiple volume spikes above 28,000 shares
- Resistance at $2.725 decisively overcome
- Total Session Gain: 2.87% across the 23-hour session
- Cumulative Institutional-Led Recovery: 8.27% rebound from support level
