NEAR Protocol Surges 5% on Institutional Accumulation Amid Macroeconomic Uncertainty

NEAR Protocol experienced a significant 5% price rebound within a 24-hour window, climbing from $2.47 to $2.60 between 6 August 15:00 and 7 August 14:00 UTC. The rally was driven by strong institutional accumulation and elevated trading volume, with the asset consolidating between $2.48 and $2.52 before a sharp upside breakout around 10:00 UTC [1]. This upward movement was supported by 3.36 million in trading volume—nearly triple the 24-hour average—indicating heightened institutional interest amid global macroeconomic uncertainty [1].

However, late-session volatility from 13:06 to 14:05 UTC significantly undermined the positive momentum. NEAR briefly tested a resistance level at $2.61 before a sharp sell-off pushed the price back down to $2.60, forming fresh support near $2.598 [1]. This decline was attributed to profit-taking behavior and potential institutional distribution, as sellers increased activity between 13:39 and 13:42 UTC. The move suggests short-term exhaustion in the bullish trend, even as earlier accumulation indicated potential upside [1].

The broader market environment continues to be shaped by shifting macroeconomic conditions, including ongoing trade tensions and uncertain monetary policy. NEAR’s intraday pullback reflects broader market hesitation, as participants reassess risk appetite in light of evolving global economic signals [1]. Institutional flows have intensified into digital assets like NEAR, with the cryptocurrency serving as an alternative investment during periods of heightened geopolitical and macroeconomic uncertainty [1].

From a technical perspective, NEAR demonstrated resilience throughout the 24-hour period, recovering from early session lows and closing near $2.60. The price action revealed a classic accumulation pattern, with key support forming at $2.51 and resistance near $2.61. The sharp breakout and subsequent volatility underscore the influence of institutional players, who appear to be both accumulating and selectively distributing the asset [1].

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Source:

[1] NEAR Protocol Posts 5% Recovery Amid Volatility Surge (https://www.coindesk.com/markets/2025/08/07/near-protocol-posts-5-recovery-amid-volatility-surge)