NEAR lost 3% of its value on Tuesday after demonstrating an impressive recovery at 13:00 UTC, rising from $2.54 to $2.56 in a move that nullified the previous drawdown.
The AI token is currently trading at $2.52 as it continues to hold above the $2.50 level of support. A drop below $2.48 would pave the way for downside extension all the way down to $2.34, which was the base of last Thursday’s rally.
A bullish breakout would occur if prices surpass Monday’s high of $2.70, which was incidentally also the high in June before a major correction. Upside targets above there would be $2.91 and $3.12.
Technical Indicators
- NEAR established formidable support mechanisms around $2.48-$2.52 with multiple technical rebounds occurring throughout volatile trading sessions.
- Resistance thresholds materialised near $2.57-$2.60 whereupon distributors maintained active positioning throughout the trading period.
- Volume acceleration to 3.68 million during the 03:00-04:00 session surpassed the twenty-four-hour average of 2.32 million, indicating heightened institutional participation.
- Final hour recuperation successfully breached resistance at $2.57 with exceptional turnover of 217,573 units at 13:55.
- Aggregate trading range of $0.15 represented 5.70% of the period’s zenith, demonstrating considerable intraday volatility characteristics.
