NEAR Protocol saw heightened volatility in the 24 hours ending August 14 at 14:00 UTC, with prices fluctuating between $2.78 and $3.05 before settling at $2.82.
The decline from the $3.05 resistance to $2.75 support was driven by heavy institutional selling, totaling nearly 20 million tokens during peak pressure. Despite this, the asset’s fundamentals remain strong, supported by a sizable active user base of 16 million weekly participants.
In the hour following the selloff, NEAR gained 0.35% to $2.83, trading within a controlled $0.07 range between $2.81 and $2.85. Key institutional buying appeared at several intervals, helping the token breach short-term resistance at $2.83–$2.84 and reach session highs of $2.85.
Trading volume eased to roughly 100,000 tokens per minute, suggesting accumulation rather than speculative retail activity, with preliminary support forming near $2.81–$2.82.
Market Performance Indicators Reflect Mixed Corporate Outlook
- NEAR Protocol recorded substantial price volatility with a $0.26 trading range representing 8.53% movement between the session high of $3.05 and low of $2.78.
- The cryptocurrency initially demonstrated upward momentum from $2.90 to reach $3.05 during evening trading hours, establishing technical resistance at the $3.04-$3.05 level.
- Significant institutional selling occurred during August 14 between 12:00-13:00 UTC with exceptional trading volumes of 19.99 million and 12.22 million tokens respectively.
- Daily trading activity substantially exceeded the 24-hour average of 5.47 million tokens, reflecting heightened institutional selling pressure.
- Market price declined to $2.75 before corporate buying interest supported a recovery to $2.82 at session close.
- High-volume institutional selling patterns suggest potential continued downside risk despite modest recovery attempts, according to market strategists.
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.
