NEAR Protocol Retreats 3% Amid Liquidation Cascade

NEAR Protocol registered a 3% decline from $2.84 to $2.75 throughout the 24-hour period, with valuations consolidating within a $0.18 bandwidth before pronounced terminal-hour liquidation catalysed a breach through established support parameters.

Market Analysis: Consolidation Transitions to Decline

NEAR Protocol demonstrated a consolidation pattern throughout the preceding 24-hour session from 28 July 15:00 to 29 July 14:00, transacting within a $0.18 range between $2.67 and $2.86, representing a 7% aggregate range. The cryptocurrency exhibited bearish inclinations with valuations declining from $2.84 to $2.75, constituting a 3% depreciation across the period.

During the concluding 60 minutes from 29 July 13:06 to 14:05, NEAR Protocol underwent a dramatic reversal from the preceding consolidation framework, experiencing an acute 2% decline from $2.78 to $2.73.

Technical Indicators Summary

• Valuations transacted within a $0.18 range between $2.67-$2.86, representing 7% aggregate volatility.
• Critical resistance emerged at $2.83 where valuations reversed lower on multiple occasions.
• Support materialised around the $2.73-$2.75 zone with notable volume surges during recovery endeavours.
• Transactional volumes exceeded 175,000 during peak selling periods from 13:50-13:52.
• Trading patterns suggest market indecision with diminishing volatility towards session conclusion.
• Breakdown characterised by significantly elevated volume during descent, indicating institutional liquidation activity.

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.

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