NEAR experienced notable price volatility over the 24-hour period ending July 24 at 15:00, with its token trading between $2.59 and $2.83. The sharp drop from $2.82 to $2.59 during early morning hours prompted high-volume trading of 7.91 million units, establishing a technical support level at the session low.
This market dislocation attracted aggressive buying, which fueled a price recovery to $2.81 by the close, signaling strong interest from sophisticated investors capitalizing on discounted valuations.
During the final hour of trading, NEAR sustained upward momentum, rising 2% from $2.72 to $2.79 despite profit-taking near resistance at $2.82. The session established a defined trading channel with support at $2.79, and analysts interpreted the resulting consolidation as healthy price discovery.
This pattern reinforced the earlier thesis of strategic accumulation by institutions amid the day’s early volatility.
Concurrently, NEAR announced a strategic partnership with Everclear to build cross-chain stablecoin settlement infrastructure targeting the $1 trillion digital asset clearing market.
Everclear’s expansion to 23 supported blockchains and 111% quarterly growth aligns with NEAR’s use of Chain Abstraction technology to support efficient, low-cost cross-chain transactions.
This collaboration addresses regulatory concerns and liquidity fragmentation in the digital asset ecosystem, affirming NEAR’s resilient market positioning and long-term value proposition despite recent volatility.
Technical analysis
- Exceptional intraday volatility range of $0.24 representing 9% spread between maximum price of $2.83 and minimum of $2.59
- Sharp morning decline from $2.82 to $2.59 during 05:00-06:00 trading session accompanied by elevated volume of 7.91 million units
- Technical support level established at $2.59 with evidence of aggressive institutional buying interest
- Sustained recovery momentum driving steady price appreciation to session close at $2.81
- Final hour trading showing continued upward momentum with 2% gain from $2.72 to $2.79
- Technical channel formation with defined support at $2.79 and resistance at $2.82
- Intraday peak of $2.82 at 15:20 followed by measured profit-taking decline to $2.79