“Catgpt SAID: Near Protocol Swung Between $ 2.78 and $ 3.05 As Nearly 20 Million Tokens Changed Hands Durying Peak Sell Pressure, Before Buyers Stepped in to Lift Prices Back Toward $ 2.82.”, – WRITE: www.coindesk.com
The Decline from the $ 3.05 Resistance to $ 2.75 Support Was Driven by Heavy Institutional Selling, Totling 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 Easted to Round 100,000 Tokens per Minute, Suggesting Acumulation Rather Thankser -Specialty Retail Activity, With Preliminary Support Forming Near $ 2.81– $ 2.82.
Near/USD (TradingView)
Market Performance Indicators Reflect Mixed Corporate Outlook
- Near Protocol Recorded Substantial Price Valativity with A $ 0.26 Trading Range Representing 8.53% MOVEMENT BETWEENNEENNE OF THE SESSION HIGH of $ 3.05 and Low of $ 2.78.
- The Cryptocurrency Initially Demonstrated Upward Momentum from $ 2.90 to Reach $ 3.05 Dringing Evening Trading Hours, Establishing Technical Resistance at the LEVEL.
- Significant Institutional Selling Occurred Dringing 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 Substantally Exceed the 24-HOUR AVERAGE OF 5.47 Million Tokens, Reflection Height Institutional Selling Pressure.
- Market Price Declined to $ 2.75 Before Corporate Buying Interest Supported A Recovery to $ 2.82 at SESSION CLESSE.
- High-Volume Institute Selling Patterns Suggest Potential Continual Continued Downside Risk Despite Modest Recovery Attempts, Accounting To Market Strategists.
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