The ear protocol so pronounced volatility over the 24-hour period from July 27 at. 15.00 to 28 July at. 14:00 UTC that swung within a 5% area between $ 2.88 and $ 3.01. The token originally stood from $ 2.90 to a high of $ 3.01 at 09:00 ADC on July 28 and encountered fixed resistance at this level. Price action was characterized by a strong upward momentum until institutional sales pressure emerged, indicated with an increase in trade volume to 3.10 million-good over the 24-hour average of 2.35 million.
This Bullish race was short-lived, so close to the other hand sharply during the 13.00 UTC trading time and fell from $ 2.94 to $ 2.89 in the middle of a staggering 5.03 million in trading volume. The size of this sales-more than twice the daily average point for possible institutional distribution and a significant shift in short-term market atmosphere. The ensuing window of 60 minutes experienced a continuation of this downward tendency, with the token slipping from $ 2.93 to $ 2.89, forming a clear falling channel between $ 2.93 resistance and $ 2.88 support.
More sales of high volume throughout the last hour, especially at. 13:21, 13:32 and 14:04 UTC, suggests persistent Bearish Momentum. Trade activity dropped sharply in the last minutes and suggested on short -term market outlet and potential sideways consolidation near the level $ 2.89. With nearly sitting at the lower end of his intraday range, dealers can look for wider macro signals before deciding the next move.
The direction of near and other altcoins can eventually hang on whether Bitcoin can break over the psychological $ 124,000 resistance level and enter a phase of consolidation. A successful BTC breakout could trigger a capital rotation to Altcoins, which sets the stage for renewed momentum upwards in assets as near.
Technical analysis overview
- Resistance firmly established to $ 3.01 and triggered a strong sales pressure.
- Initial increase marked with quantities surpassing the 24-hour average of 2.35 million.
- Sharp reversing from $ 2.94 to $ 2.89 with volume egg to 5.03 million – more than twice the average.
- Downward channel formed between $ 2.93 resistance and $ 2.88 support.
- Multiple intra-hour volume waves (200k+) in line with strong price rejection.
- Last minutes were insignificant volume, indicating possible market exhaustion near $ 2.89.
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