Near Protocol, 5% rose from $ 2.47 to $ 2.60 in the 24-hour period, which ended 7 August at. 14:00 UTC, and exhibited strong resilience in the midst of wider market turbulence. Institutional accumulation helped fuel for a recovery rally after low session-low, with award, gathering between $ 2.48 and $ 2.52, before a sharp upside break around 10:00 UTC, supported by 3.36 million in trading volume. The progress of the act, partly influenced by the global risk-off mood, reflected investors’ turns to alternative assets under increased geopolitical and macroeconomic uncertainty.
Last-session Sales-off Caps Bullish Momentum
Despite its previous strength, the near -Times Trade of the Survuation – from 13:06 to 14:05 UTC – witnesses an increase in volatility that erased most intraday gains. After short testing of resistance to $ 2.61, an increase in volume fell between 13:39 and 13:42 with profit. Sales of press -shaped a falling channel, with Price withdraws to the closure of $ 2.60, slightly over fresh support near $ 2,598. The relocation signalizes possible exhaustion in the short term, as institutional distribution may limit further upward despite previous accumulation.
Macro relationships continue to shape the market dynamics
The background of NEAR’s performance remains strongly influenced by changing macroeconomic forces. As larger economies calibrate monetary policy in response to inflation effects from ongoing trade disputes, institutional is flowing to digital assets that are near intensified. Cryptocurrency’s intraday withdrawal mirrors a wider market hesitation when participants digest global political shifts and their consequences for crypto market structure and risk appetite.
Technical indicator analysis
- Near Protocol demonstrated considerable resilience in the previous 24-hour period from August 6, 15:00 to 7 August 14:00, which recovered from Nadirs at $ 2.47 to close at $ 2.60, representing a convincing 5% gain.
- Cryptocurrency showed a classic accumulation pattern through the first 18 hours that consolidated between $ 2.47- $ 2.52, before waving dramatically at. 10am on August 7, with a unique volume of 3.36 million units-there is about double the average of 24 hours of 1.20 million.
- This breakout established robust support for $ 2.51 and resistance to $ 2.61, with the marked price expansion suggesting institutional accumulation followed by momentum-driven purchases that could extend against $ 2.65- $ 2.70 based on measured movement projections.
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