NEAR Protocol Tumbles 7% Following Failed Rally as Korean Exchanges Suspend Operations

NEAR Protocol saw heightened volatility in the 24 hours ending August 14 at 14:00 UTC, with prices fluctuating between $2.78 and $3.05 before settling at $2.82.

The decline from the $3.05 resistance to $2.75 support was driven by heavy institutional selling, totaling nearly 20 million tokens during peak pressure. Despite this, the asset’s fundamentals remain strong, supported by a sizable active user base of 16 million weekly participants.

In the hour following the selloff, NEAR gained 0.35% to $2.83, trading within a controlled $0.07 range between $2.81 and $2.85. Key institutional buying appeared at several intervals, helping the token breach short-term resistance at $2.83–$2.84 and reach session highs of $2.85.

Trading volume eased to roughly 100,000 tokens per minute, suggesting accumulation rather than speculative retail activity, with preliminary support forming near $2.81–$2.82.

Market Performance Indicators Reflect Mixed Corporate Outlook

• NEAR Protocol recorded substantial price volatility with a $0.26 trading range representing 8.53% movement between the session high of $3.05 and low of $2.78.
• The cryptocurrency initially demonstrated upward momentum from $2.90 to reach $3.05 during evening trading hours, establishing technical resistance at the $3.04-$3.05 level.
• Significant institutional selling occurred during August 14 between 12:00-13:00 UTC with exceptional trading volumes of 19.99 million and 12.22 million tokens respectively.
• Daily trading activity substantially exceeded the 24-hour average of 5.47 million tokens, reflecting heightened institutional selling pressure.
• Market price declined to $2.75 before corporate buying interest supported a recovery to $2.82 at session close.
• High-volume institutional selling patterns suggest potential continued downside risk despite modest recovery attempts, according to market strategists.

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