NEAR Protocol posts 5% gains in the 24-hour period ending 9 July 15:00, closing at $2.27 despite heavy volatility.
The rally coincides with Grayscale’s quarterly rebalancing, positioning NEAR at 28.41% of its Decentralized AI Fund.
The move comes amid renewed optimism across the altcoin sector, with analysts calling for a long-awaited “altcoin season,” which would likely occur if bitcoin (BTC) breaks a new record high and consolidates, prompting a capital flow to altcoins.
Technical Analysis
- NEAR opens at $2.16, closes at $2.27 for 5.09% session gain.
- Token swings $0.14 or 6.20% between $2.15 low and $2.29 peak.
- 17:00 hour sees 4.16 million unit surge, driving price from $2.18 to $2.23.
- Spike exceeds 24-hour average of 1.87 million units.
- Volume establishes resistance at $2.24, support at $2.21.
- $2.25 level holds through multiple resistance-support tests.
- Late buying pushes close toward session highs, signaling momentum continuation.
- Early pressure drops token to $2.25 by 14:36, down 1.64% in nine minutes.
- 515,008-unit spike at 14:56 triggers reversal from $2.25 to $2.26.
- Final 30 minutes show 1.20% bounce from session lows.
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