NEAR Protocol demonstrated formidable resilience during the July 30-31 trading session, recovering sharply from mid-session lows of $2.52 to close at $2.73. The bounce—amounting to an 8.27% rebound—coincided with high-volume activity, particularly among corporate trading desks and institutional asset managers. Analysts interpret this as a sign of strategic accumulation, likely driven by growing confidence in NEAR's enterprise blockchain ambitions.
Institutional activity was most evident on July 30 between 18:00 and 19:00, when NEAR experienced a steep drop from $2.68 to $2.52 on a volume spike exceeding 9.60 million shares. This selloff defined a critical accumulation zone. From that base, NEAR steadily recovered through the overnight session, with corporate traders defending the $2.52 support level and methodically accumulating positions.
The final trading hour on July 31—from 09:05 to 10:04—offered further evidence of institutional participation. While headline gains for that hour were modest at just 0.15%, sustained volume surges above 28,000 shares per transaction pushed NEAR through resistance at $2.725. Strategic buys at 09:17, 09:25, 09:52, and 10:01 highlighted coordinated positioning by sophisticated investors preparing for longer-term enterprise adoption.
Industry experts note that NEAR’s performance is emblematic of a broader trend in which institutional investors selectively allocate capital to Layer 1 blockchain protocols with perceived enterprise integration potential.
Technical Analysis Summary:
- Trading Range: $2.52 (support) to $2.74 (resistance), representing 7.83% volatility.
- Volume Spike: 9.60 million shares traded during July 30 18:00–19:00 selloff.
- Institutional Accumulation Zone: $2.52–$2.55 identified as key support.
- Final Hour Trading (July 31 09:05–10:04):
- Modest gain of 0.15% from $2.72 to $2.73.
- Volume >28,000 shares at each strategic entry (09:17, 09:25, 09:52, 10:01).
- Resistance at $2.725 decisively breached.
- Net Session Gain: +2.87% across 23 hours.
- Cumulative Institutional Rebound: +8.27% from $2.52 to $2.73.
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.
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