“Near Protocol Surged on Strong Institutional Inflows and Rising User Growth, Overcoming Multiple Resistance Levels Before Short-Term Valativity Set in.”, – WRITE: www.coindesk.com
Durying the Final 60 minutes from 13 august 14:40 to 15:39, Near Displayed Notable Volatility, Retreating from $ 2.92 to $ 2.91 After Hitting A Session High of $ 2.94 and A Loow of $ 2.94. Resistance Reject at $ 2.94 coincides with a Sharp selloff at 15:09, WHERE VOLUMES EXCEED 396,000. This was followed by stabilization in the $ 2.90– $ 2.91 Range with Deckling Volumes, Indicating A Tempoury Balance After An Intense Price Discovery Phase.
Broader Market Dynamics Favored Near As Part of A Trend Town Layer-1 Blockchain Infrastructure Plays During a Recovery Pase. Global Cryptocurrency Investment Products SAW $ 572 Million in Inflows, With Near Attracing Notable Investor Interest Alongside Solana and Xrp. The Protocol’s User Base Reached 16 Million Weekly Active Participants – Up 18.4% and Surpassing Solana’s 14.8 Million – Supported by Strategic Partnerships Long-Term Growth Prospects.
Technical Indicators OverView
- Robust Support Establized at $ 2.76 with Substantial Volume Confirmation During Early Morning Trading Hours.
- Resistance Level Identified Near $ 2.94 with Multiple Reject Attempts Observed.
- Volume Peaks Exceeded 7.6 Million Dringing Breakout Phases, Significantly Above the 24-HOUR AVERAGE OF 3.5 MILLION.
- Sustaned Upward TradeCtory with Consistent Higher Lows Formation Indicates Continued Bullish Sentiment.
- Classic Resistance Reject Pattern at $ 2.94 Level with Substantial Volume Spikes Exceeding 396,000.
- Consolidation AROUND $ 2.90- $ 2.91 Range with Diminishing Volume Suggests Tempury Equilibrium.
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The Advance Occurred Alongside A Strong Day for Broader Crypto Markets.
- FIL ROSE 4% ON SIGNFICANT VOLUME.
- Wider Crypto Markets Also Rose, with The Coindesk 20 Index Up 3.2%.
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