NEAR Protocol Posts 5% Recovery Amid Volatility Surge
Main Idea
NEAR Protocol experienced a 5% price increase to $2.60 amid strong institutional accumulation and trading volume, but late-session volatility erased most gains.
Key Points
1. NEAR Protocol surged 4.8% to $2.60 in a 24-hour period, showing resilience despite broader market turbulence.
2. Trading volume reached 3.36 million, with price action fluctuating between $2.48 and $2.52 before a sharp rise around 10:00 UTC.
3. Late-session profit-taking led to increased volatility, causing the price to retreat to $2.60 after briefly testing $2.61.
4. The price movement suggests short-term exhaustion, influenced by institutional activity and broader market conditions.
Description
NEAR Protocol climbed 5% from $2.47 to $2.60 in the 24-hour period ending 7 August at 14:00 UTC, exhibiting strong resilience amid broader market turbulence. Institutional accumulation helped fuel a recovery rally after early-session lows, with price action coalescing between $2.48 and $2.52 before a sharp upside break around 10:00 UTC, supported by 3.36 million in trading volume. The asset’s advance, partially influenced by global risk-off sentiment, reflected investors’ pivot to alternative as...
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