NEAR Protocol Gains 5% Amid Surge in Trading Volume

NEAR traders are demonstrating bullish sentiment over the past 24 hours, with the token advancing from $2.26 to a session high of $2.38 before settling near $2.34.

The $0.12 trading range represented a notable 5.04% gain, with peak activity occurring during the July 9 7:00 PM hour when trading volume reached 4.62 million units—nearly triple the session average of 1.73 million—indicating substantial participation and establishing technical support at the $2.29 level.

The move comes alongside bitcoin's recent break of $112,000, a new record high as the industry remains patient for a long-awaited altcoin season.

Technical Indicators Analysis

• Price range of $0.12 representing 5% movement from $2.26 to $2.38 peak.
• Volume surge to 4.62 million units during July 9 7:00 PM hour, exceeding 23-hour average of 1.73 million.
• Strong technical support established at $2.29 level.
• New support zone formed around $2.34 following recovery.
• Institutional profit-taking patterns observed during 3:41-3:42 PM timeframe.
• Strategic buying activity confirmed underlying bullish sentiment.

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