NEAR Protocol (NEAR) rebounded sharply between July 30 and July 31, rising 8.27% from $2.52 to $2.73 on the back of institutional accumulation. The recovery showcases growing confidence from corporate trading desks in NEAR’s enterprise blockchain infrastructure, even as broader markets remain volatile.
Institutional Accumulation Drives the Bounce
The most significant price action occurred during a volatile 23-hour window, where NEAR dropped to a key support zone of $2.52, only to stage a strong recovery led by institutional buying. According to volume data, over 9.60 million NEAR tokens were traded during the July 30 selloff between 18:00 and 19:00, marking a critical accumulation zone between $2.52–$2.55.
This price floor was aggressively defended overnight by large trading desks, turning a bearish dip into a bullish signal.
Final Hour Activity Confirms Strategic Buying
On July 31, NEAR’s price hovered near $2.73, up modestly from $2.72 in the final hour (09:05–10:04), but volume spikes at 09:17, 09:25, 09:52, and 10:01, each exceeding 28,000 shares, signaled clear institutional confidence.
The $2.725 resistance level was decisively broken, further supporting bullish momentum.
Technical Summary
- Support Zone: $2.52–$2.55
- Resistance Level: $2.74
- 24H Trading Range: $2.52 to $2.74 (7.83% intraday volatility)
- Volume Highlight: 9.60 million tokens traded during initial dip (July 30, 18:00–19:00)
What It Means for NEAR Protocol
The rebound demonstrates resilience and strategic investor interest in NEAR, particularly from institutions betting on blockchain infrastructure’s future. Analysts believe NEAR’s use case in scalable smart contracts and developer-friendly tools makes it increasingly attractive for long-term portfolios.
Can NEAR Maintain Momentum?
While near-term resistance lies around $2.74, the consistent volume-backed recovery from $2.52 suggests NEAR could stabilize in a bullish consolidation pattern if broader market conditions remain favorable.
With blockchain adoption expanding in enterprise sectors, NEAR’s strategic position may continue to attract institutional capital, particularly during periods of market correction.
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.