NEAR Protocol Rises 5% on Institutional Flows Before Late Volatility Trims Gains
NEAR Protocol (NEAR) gained 5% in a 24-hour rally that briefly lifted the token from $2.47 to $2.60, buoyed by institutional demand and risk rotation into digital assets. However, late-session volatility reversed part of the move, capping further upside momentum.
The rally began as NEAR consolidated between $2.48 and $2.52, before breaking higher around 10:00 UTC, driven by a surge in volume that peaked at 3.36 million tokens—nearly triple its 24-hour average. Technical signals suggested strong accumulation at support, triggering bullish momentum.
However, selling pressure emerged after NEAR touched $2.61, a known resistance level. Between 13:39 and 13:42 UTC, profit-taking accelerated, and the price retraced slightly to close near $2.60, holding just above new support at $2.598. The pullback formed a descending pattern, indicating short-term exhaustion.
Macro Backdrop: Supportive But Uncertain
NEAR’s recovery reflects increasing interest in crypto amid global macroeconomic turbulence. As major economies adjust to trade shocks and inflationary pressures, investors have turned to alternative assets. Despite the pullback, sustained institutional inflows point to continued long-term interest.
Technical Breakdown:
- 24h Range: $2.47 – $2.61
- Closing Price: $2.60
- 24h Volume: 3.36M NEAR (vs. 1.2M avg)
- Support: $2.51
- Resistance: $2.61
Momentum remains constructive, with consistent higher lows and a breakout from prior consolidation. A sustained move above $2.61 could open the door to a retest of the $2.65–$2.70 zone, provided macro conditions remain favorable.
