NEAR Shows Volatile Recovery Amid Wave of Sell Pressure

NEAR Protocol fell 0.98% in the final hour Monday, sliding from $2.755 at 09:14 to $2.730 by 10:13 as selling pressure intensified. Attempts to reclaim $2.765 resistance failed, even after an 81,064-unit volume spike at 09:56, leaving sellers in control. Support at $2.729–$2.730 halted the drop, with consecutive zero-volume minutes into the close hinting at near-term consolidation. The late decline capped a volatile 23-hour stretch from August 10–11, with NEAR swinging between $2.696 and $2.817. Despite recovering from early lows, it closed at $2.729, down 1.25% overall. The whipsaw action reflects broader caution in crypto markets, where geopolitical tensions and shifting trade policies have kept traders on edge. Even as short-term sentiment wavered, digital asset investment products drew $572 million in inflows—led by Ethereum ($268M) and Bitcoin ($260M)—signaling institutional confidence after recent payroll-driven outflows. Apex Invest Digital’s partnership with Coinbase Asset Management for a Swiss institutional program added to signs of accelerating mainstream adoption. NEAR’s ability to hold support suggests potential stabilization if selling eases, though traders may wait for fresh catalysts before re-engaging. Strong institutional inflows could help offset macroeconomic headwinds, but the token remains sensitive to global developments, making it a key gauge of broader crypto sentiment. Key Technical Indicators NEAR exhibits significant volatility during 23-hour August 10-11 session, trading $0.12 range (4%) between $2.70 low and $2.82 peak. Cryptocurrency demonstrates recovery pattern, declining to $2.71 before staging rally to $2.82 at August 11 02:00, supported by elevated 3.99 million unit volume. Key resistance emerges at $2.82 level triggering reversal on high volume, while support materializes near $2.70-$2.71 with multiple successful bounces. NEAR continues volatile trajectory during final 60 minutes from August 11 09:14 to 10:13, experiencing pronounced $0.027 (-1%) decline from $2.76 to $2.73. Session characterized by persistent selling pressure with failed recovery attempts, notably around $2.77 at 09:32 despite elevated 81,064-unit volume at 09:56. Key support levels emerge around $2.73 zone stabilizing decline, while session concludes with consecutive zero-volume minutes suggesting market exhaustion and potential consolidation ahead. 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 .

Source: CoinDesk