NEAR Rallies on Institutional Inflows, Surges Past Resistance Before Volatile Pullback

NEAR Protocol experienced strong upward momentum between 12 August 16:00 and 13 August 15:00, climbing from $2.75 to $2.91 for a 5.82% gain on trading volumes exceeding $7.6 million. Institutional inflows played a key role, with the cryptocurrency breaking multiple resistance levels and establishing firm support at $2.76. Volume spikes during breakout phases surpassed twice the 24-hour average, reflecting heightened market conviction and positioning NEAR for a potential move toward the $3.00 psychological threshold.

During the final 60 minutes from 13 August 14:40 to 15:39, NEAR displayed notable volatility, retreating from $2.92 to $2.91 after hitting a session high of $2.94 and a low of $2.88. Resistance rejection at $2.94 coincided with a sharp selloff at 15:09, where volumes exceeded 396,000. This was followed by stabilization in the $2.90–$2.91 range with declining volumes, indicating a temporary balance after an intense price discovery phase.

Broader market dynamics favored NEAR as part of a trend toward Layer-1 blockchain infrastructure plays during a recovery phase. Global cryptocurrency investment products saw $572 million in inflows, with NEAR attracting notable investor interest alongside Solana and XRP. The protocol’s user base reached 16 million weekly active participants—up 18.4% and surpassing Solana’s 14.8 million—supported by strategic partnerships with Aurora Labs and expanding developer engagement, underscoring its strong long-term growth prospects.

Technical Indicators Overview

• Robust support established at $2.76 with substantial volume confirmation during early morning trading hours.
• Resistance level identified near $2.94 with multiple rejection attempts observed.
• Volume peaks exceeded 7.6 million during breakout phases, significantly above the 24-hour average of 3.5 million.
• Sustained upward trajectory with consistent higher lows formation indicates continued bullish sentiment.
• Classic resistance rejection pattern at $2.94 level with substantial volume spikes exceeding 396,000.
• Consolidation around $2.90-$2.91 range with diminishing volume suggests temporary equilibrium.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

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