Volume and Structure Suggest Institutional Accumulation Holds Strong
After surging to a 24-hour high of $2.69 on bullish altcoin momentum, NEAR Protocol (NEAR) has pulled back nearly 4% amid broader market profit-taking, largely triggered by Bitcoin’s (BTC) sharp retracement from its all-time high near $123,000.
Despite the pullback, analysts say NEAR’s technical structure remains intact, signaling that the drop may be a healthy correction rather than a trend reversal.
Key Market Highlights
- 24-hour performance: NEAR initially rallied 6.7%, reaching $2.66 before sliding to around $2.55.
- Support tested: The token continues to hold key support at $2.51, established during early Monday trading.
- Volume surge: A spike of over 143,000 units traded confirmed institutional interest and a V-shaped recovery.
- Breakout zone: Resistance at $2.62–$2.64 has flipped to support, confirming short-term bullish continuation.
- Next upside targets: $2.70–$2.72 remain in sight if current levels hold.
https://www.coindesk.com/markets/2025/07/14/near-surges-7-in-strong-bullish-recovery-rally
Why NEAR Is Still on the Radar
Despite the short-term dip, NEAR’s overall price structure suggests accumulation above previous resistance. The formation of higher lows throughout the recovery phase and the volume-backed breakout above $2.67 highlight continued interest from whales and institutions.
The broader altcoin market has started heating up on speculation of a new “altcoin season”, which typically follows Bitcoin price peaks. Tokens like NEAR, SOL, and SUI have benefited from this rotation.
“A 4% dip is minor compared to the underlying structure,” notes analyst Oliver Knight. “If NEAR maintains $2.51, the bulls are still in control.”
Looking Ahead
While NEAR remains far below its 2024 high of $9.00, which was driven by AI and Web3 hype, the current setup shows strength in the $2.50–$2.70 range. If NEAR reclaims $2.70 with volume, the next leg higher could unfold rapidly.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.