NEAR Shows Volatile Recovery Amid Wave of Sell Pressure

NEAR Protocol fell 0.98% in the final hour Monday, sliding from $2.755 at 09:14 to $2.730 by 10:13 as selling pressure intensified. Attempts to reclaim $2.765 resistance failed, even after an 81,064-unit volume spike at 09:56, leaving sellers in control. Support at $2.729–$2.730 halted the drop, with consecutive zero-volume minutes into the close hinting at near-term consolidation.

The late decline capped a volatile 23-hour stretch from August 10–11, with NEAR swinging between $2.696 and $2.817. Despite recovering from early lows, it closed at $2.729, down 1.25% overall. The whipsaw action reflects broader caution in crypto markets, where geopolitical tensions and shifting trade policies have kept traders on edge.

Even as short-term sentiment wavered, digital asset investment products drew $572 million in inflows—led by Ethereum ($268M) and Bitcoin ($260M)—signaling institutional confidence after recent payroll-driven outflows. Apex Invest Digital’s partnership with Coinbase Asset Management for a Swiss institutional program added to signs of accelerating mainstream adoption.

NEAR’s ability to hold support suggests potential stabilization if selling eases, though traders may wait for fresh catalysts before re-engaging. Strong institutional inflows could help offset macroeconomic headwinds, but the token remains sensitive to global developments, making it a key gauge of broader crypto sentiment.

Key Technical Indicators

• NEAR exhibits significant volatility during 23-hour August 10-11 session, trading $0.12 range (4%) between $2.70 low and $2.82 peak.
• Cryptocurrency demonstrates recovery pattern, declining to $2.71 before staging rally to $2.82 at August 11 02:00, supported by elevated 3.99 million unit volume.
• Key resistance emerges at $2.82 level triggering reversal on high volume, while support materializes near $2.70-$2.71 with multiple successful bounces.
• NEAR continues volatile trajectory during final 60 minutes from August 11 09:14 to 10:13, experiencing pronounced $0.027 (-1%) decline from $2.76 to $2.73.
• Session characterized by persistent selling pressure with failed recovery attempts, notably around $2.77 at 09:32 despite elevated 81,064-unit volume at 09:56.
• Key support levels emerge around $2.73 zone stabilizing decline, while session concludes with consecutive zero-volume minutes suggesting market exhaustion and potential consolidation ahead.

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.