NEAR Protocol Slides 5% as Altcoin Season Abruptly Ends

NEAR Protocol endured a turbulent 24-hour agelong betwixt July 22 15:00 and July 23 14:00, declining from $2.97 to $2.81 successful a 5.41% determination that underscored broader weakness crossed the altcoin complex.

The token traded wrong a volatile $0.28 range, peaking astatine $3.04 earlier slumping to an intraday debased of $2.76. The sharpest selloff emerged during the July 23 13:00 hr arsenic NEAR tumbled from $2.84 to $2.76, with trading volumes spiking to 14.19 cardinal tokens—nearly 5 times its 24-hour average.

This dynamic established important absorption astatine $2.84, suggesting traders volition beryllium watching that level for signs of reversal.

During a captious hr from 13:10 to 14:09 UTC, NEAR concisely stabilized aft plunging 2.46% from $2.84 to $2.77, earlier recovering to $2.80.

Trading strength peaked betwixt 13:41 and 13:51 erstwhile implicit 850,000 units changed hands per minute, highlighting the fragility of enactment adjacent $2.76.

While the rebound hints astatine a imaginable short-term consolidation, the wider altcoin market’s softness raises questions astir whether NEAR tin prolong upward momentum.

Adding to the mix, NEAR Foundation’s concern with Everclear to make cross-chain colony infrastructure could enactment arsenic a catalyst for renewed interest. Meanwhile, traders proceed to oculus the emergence of narrative-driven projects specified arsenic MAGACOIN FINANCE, which has diverted speculative superior arsenic NEAR contends with improvement delays heading into Q4 2025.

Technical Analysis

• Price Action: NEAR fell 5.41% from $2.97 to $2.81 (July 22–23), with a trading scope of $3.04 (high) to $2.76 (low).
• Volume Spike: 14.19M tokens exchanged during highest selloff, acold supra the 2.89M regular average.
• Resistance Level: $2.84 established arsenic important overhead absorption aft aggregate failed retests.
• Support Level: $2.76 held arsenic a cardinal level during high-volume volatility.
• Altcoin Context: Broader marketplace weakness weighs connected NEAR’s betterment prospects.

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