NEAR Shows Strong Upward Momentum Supported by Significant Trading Volume

NEAR Protocol saw strong upward momentum from 12 August 16:00 to 13 August 15:00, rising from $2.75 to $2.91, marking a 5.82% increase with trading volumes exceeding $7.6 million. Institutional inflows were instrumental, as the cryptocurrency broke several resistance levels and established solid support at $2.76. During breakout phases, volume spikes surpassed twice the 24-hour average, reflecting increased market confidence and positioning NEAR for a potential move toward the $3.00 psychological threshold.

In the last 60 minutes from 13 August 14:40 to 15:39, NEAR experienced significant volatility, dipping from $2.92 to $2.91 after reaching a session high of $2.94 and a low of $2.88. Resistance at $2.94 saw rejection coinciding with a sharp selloff at 15:09, where volumes exceeded 396,000. This was followed by stabilization in the $2.90–$2.91 range with decreasing volumes, indicating a temporary equilibrium post intense price discovery phase.

Wider market trends favored NEAR as interest shifted towards Layer-1 blockchain infrastructure during a recovery phase. Global cryptocurrency investment products reported $572 million in inflows, with NEAR garnering attention alongside Solana and XRP. The protocol’s user base grew to 16 million weekly active participants—an 18.4% increase, eclipsing Solana’s 14.8 million—enhanced by strategic partnerships with Aurora Labs and growing developer engagement, highlighting its robust long-term growth potential.

Technical Indicators Overview

• Strong support formed at $2.76 with significant volume confirmation during early trading hours.
• Resistance identified near $2.94 with multiple rejections observed.
• Volume surges above 7.6 million during breakout phases, significantly exceeding the 24-hour average of 3.5 million.
• Sustained upward path indicated by consistent formation of higher lows, suggesting ongoing bullish sentiment.
• Notable resistance rejection pattern at $2.94 with significant volume spikes exceeding 396,000.
• Consolidation around the $2.90-$2.91 range with decreasing volume indicates temporary balance.

Disclaimer: Parts of this article were generated with assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to RialCenter’s standards.