NEAR Protocol experiences a 3% drop followed by a recovery fueled by significant volume.

NEAR Protocol Drops 3%, Rebounds Above Key Support as Market Volatility Persists

NEAR Protocol fell by 3% on Tuesday, echoing a widespread crypto downturn that saw Bitcoin plunge from $123,000 to $117,000. However, NEAR staged a notable comeback around 13:00 UTC, rebounding from $2.54 to $2.56 and erasing earlier losses.

At last check, NEAR was trading near $2.52, maintaining its hold above the critical $2.50 support level. A dip below $2.48 could open the door for further losses toward $2.34—the base price from last Thursday’s rally.

On the bullish side, a breakout above Monday’s high of $2.70 would indicate renewed upward momentum. This level also marked a key resistance point back in June before a significant correction. Beyond $2.70, targets include $2.91 and $3.12.

Technical Picture

• NEAR has established solid support between $2.48 and $2.52, with multiple rebounds underscoring buying interest.
• Resistance is forming between $2.57 and $2.60, where selling pressure has been persistent.
• Trading volumes surged to 3.68 million between 03:00 and 04:00 UTC, far above the 24-hour average of 2.32 million, signaling strong institutional activity.
• The late-session rally broke through resistance at $2.57, driven by heavy turnover of 217,573 tokens at 13:55 UTC.
• The intraday price swing covered $0.15, representing about 5.7% of the day’s high and reflecting elevated volatility.