NEAR Slides Following 5% Pullback as Altcoin Rally Fizzles

NEAR Drops 5% Amid Broader Altcoin Retreat, Faces Resistance at $2.84

NEAR Protocol (NEAR) slid 5.41% over the past 24 hours, falling from $2.97 to $2.81 as altcoin markets came under renewed selling pressure. The decline highlights growing fragility across the crypto sector as traders rotate out of high-beta assets.

NEAR traded within a $0.28 range, briefly touching $3.04 before plunging to a session low of $2.76. The steepest selloff occurred during the 13:00 UTC hour on July 23, with the token dropping from $2.84 to $2.76 as volume spiked to 14.19 million—nearly five times the daily average.

That drawdown confirmed $2.84 as near-term resistance, with multiple rebound attempts failing at that level. Although NEAR bounced slightly to $2.80 in the following hour, buyers struggled to regain momentum amid persistent selling.

Volume intensity peaked between 13:41 and 13:51 UTC, with more than 850,000 tokens traded per minute. The heavy turnover reinforced $2.76 as a tentative support level, though its durability remains in question if volatility persists.

Despite headwinds, NEAR Foundation’s new partnership with Everclear on cross-chain settlement infrastructure could support future upside. However, competition from emerging narrative-driven projects like MAGACOIN FINANCE continues to draw liquidity away from established names.

Technical Snapshot:

• Price Change: -5.41% from $2.97 to $2.81
• Intraday Range: $3.04 (high) to $2.76 (low)
• Volume Surge: 14.19M traded during peak hour (5× average)
• Resistance: $2.84
• Support: $2.76

NEAR’s short-term outlook remains constrained unless bulls can reclaim $2.84 on strong volume, with broader market softness keeping risk elevated.