NEAR Advances 5% Following Boost in Trading Volumes

NEAR Protocol Jumps 5% as Traders Pile In on Volume Surge

NEAR Protocol (NEAR) posted a solid performance over the past 24 hours, climbing from $2.26 to a session high of $2.38 before settling near $2.34. The move mirrors growing optimism across the crypto market as Bitcoin recently set a new all-time high above $112,000.

NEAR’s $0.12 price gain represents a 5.04% increase, driven by a significant uptick in trading activity. At 7:00 PM on July 9, volume spiked to 4.62 million tokens, nearly triple the average hourly volume of 1.73 million. This surge in activity helped establish strong technical support around the $2.29 level.

After the rally, price action suggests a new support zone forming around $2.34, indicating that traders might be positioning for another leg higher.

While brief institutional profit-taking was spotted between 3:41 PM and 3:42 PM, overall sentiment remained bullish, supported by strategic buying throughout the session.

Technical Highlights:

• NEAR traded in a $0.12 range, marking a 5% increase.
• Trading volume peaked at 4.62 million tokens, well above the 1.73 million average.
• Key support established at $2.29, with a potential new floor near $2.34.
• Institutional flows point to profit-taking amid an overall bullish trend.

With Bitcoin pushing to new highs, traders are watching altcoins like NEAR closely, anticipating broader gains if momentum continues.