Technical Analysis Shows Volatile Recovery Pattern
NEAR trades in extreme volatility across 24 hours ending 5 August 14:00. Price swings $0.13, marking 5% range between $2.57 peak and $2.44 floor.
Morning selloff hits hard at 07:00, driving NEAR from $2.48 to $2.44. Volume spikes to 3.2 million units, confirming heavy institutional dumping.
Support holds at $2.44 with massive volume backing. Bulls step in immediately. Recovery rally pushes NEAR to $2.54 by session close. Technical reversal pattern emerges as buyers defend key support zone.
Technical Indicators Highlight Market Dynamics
- NEAR posts $0.13 trading range, representing 5% volatility between $2.57 high and $2.44 low during session
- Morning crash from $2.48 to $2.44 at 07:00 triggers massive 3.2 million unit volume spike, confirming institutional selling pressure
- Recovery phase establishes ascending channel with $2.52 support and $2.54 resistance levels
- Final hour from 13:09 to 14:08 delivers bullish breakout pattern, posting 1% gains
- Volume concentration hits 100,000+ units per minute during 13:33-13:39 window, signaling institutional accumulation
- Trading volume drops to zero in final three minutes, suggesting institutional positioning ahead of potential breakout move
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.
