NEAR Protocol Rises 5% as Traders Show Bullish Momentum

NEAR Protocol (NEAR) saw a solid rally over the past 24 hours, climbing from $2.26 to a session high of $2.38 before settling around $2.34. The move reflects growing optimism among traders and comes as Bitcoin set a fresh record high at $112,000.

The token’s $0.12 price swing represents a 5.04% gain, with the most intense trading activity happening at 7:00 PM on July 9, when volume spiked to 4.62 million tokens—nearly triple the session’s average of 1.73 million. This surge highlighted significant participation and established key technical support at $2.29.

Following the initial rally, a new support zone appears to have formed around $2.34, suggesting traders are positioning for further upside.

Technical signals during the session also revealed patterns of institutional profit-taking, notably between 3:41 PM and 3:42 PM, while strategic buying confirmed an underlying bullish bias for NEAR.

The momentum in NEAR echoes broader market enthusiasm, sparked by Bitcoin’s record highs and anticipation of a potential altcoin season on the horizon.

Technical Highlights:

• NEAR traded in a $0.12 range, marking a 5% gain from the low to the session peak.
• Volume peaked at 4.62 million tokens at 7:00 PM, well above the average of 1.73 million.
• Strong support established at $2.29, with additional support forming at $2.34.
• Institutional activity suggests profit-taking amid overall bullish sentiment.