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.
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