NEAR Sheds 4% After Failing to Break Resistance, Raising Reversal Signals

NEAR Falls 4% as Price Rejects Resistance, Signaling Short-Term Bearish Shift

NEAR Protocol’s token slipped 4% over the past 24 hours, reversing sharply after failing to break through overhead resistance, as increased volume and heavy sell pressure point to a shift in short-term sentiment.

Between July 27 at 15:00 UTC and July 28 at 14:00 UTC, NEAR traded between $2.88 and $3.01—a 5% intraday range. After rallying early to a peak of $3.01 by 09:00 UTC, the token met firm resistance, triggering a high-volume rejection. Trading volume spiked to 3.10 million during the move, significantly above the 24-hour average of 2.35 million, suggesting institutional selling played a role in halting the rally.

Selling pressure intensified during the 13:00 UTC hour, with NEAR sliding from $2.94 to $2.89 as volume surged to 5.03 million—the day’s highest. The token continued trading in a descending range between $2.93 and $2.88, indicating growing bearish momentum.

Notably, concentrated sell activity at 13:21, 13:32, and 14:04 UTC marked key inflection points in the decline. However, a sharp drop in volume toward the end of the session suggests selling may be temporarily exhausted, setting the stage for near-term consolidation around the $2.89 level.

Looking ahead, NEAR’s direction will likely hinge on broader market sentiment. A confirmed breakout in Bitcoin above $124,000 could trigger renewed inflows into altcoins and help stabilize NEAR’s price action.

Technical Summary:

• Price Range: $2.88–$3.01 (5% intraday spread)
• Rejection Point: $3.01 failed breakout met with high-volume selling
• Volume Peaks: 3.10M during rally; 5.03M during sharp reversal
• Descending Channel: Resistance at $2.93, support near $2.88
• Heavy Selling: Key pressure points at 13:21, 13:32, and 14:04 UTC
• Short-Term Outlook: Consolidation expected near $2.89 as volume fades

NEAR faces technical headwinds in the short term, but broader crypto market dynamics—particularly Bitcoin’s next move—could determine whether this pullback deepens or finds support.