NEAR Protocol saw sharp intraday swings on Aug. 12, with prices climbing from $2.643 to $2.678 by 13:35 before reversing swiftly. The sell-off, concentrated between 13:38 and 13:49, erased most hourly gains as the token fell to $2.634 on heavy volume exceeding 200,000 tokens per minute. Profit-taking at the $2.675–$2.680 resistance level—identified in prior sessions—capped the rally, while the $2.630–$2.635 zone once again provided firm support. NEAR closed the hour at $2.644 after a low-volume rebound attempt.

Over the prior 24 hours, NEAR rebounded strongly from $2.57 support to touch $2.73, a 6% range that showcased aggressive buying interest. The move followed an initial dip from $2.68 to $2.58 before buyers regained control, sending prices back to $2.68 with exceptional turnover of 8.01 million tokens. Resistance around $2.68–$2.73 remains intact, with $2.57–$2.59 proving a reliable floor during repeated tests.

Institutional demand underpinned the rally, with $572 million in global inflows into digital asset investment products last week, including $10.1 million directed toward NEAR. The momentum came as U.S. policy shifts allowed digital assets in 401(k) retirement plans, sparking $1.57 billion in late-week inflows and boosting confidence across blockchain markets. Analysts view this as a pivotal moment for mainstream adoption, potentially broadening NEAR’s investor base.

Technically, NEAR’s chart shows a resilient recovery pattern supported by high-volume surges at key levels. Strong buying near $2.57–$2.59 repeatedly sparked sharp reversals, while the upper $2.68–$2.73 band continues to draw heavy selling pressure. With institutional flows accelerating and regulatory developments favoring crypto adoption, NEAR’s price action may remain volatile but underpinned by strengthening long-term support.

Technical indicators

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk's full AI Policy .