NEAR Protocol Slips 3% Following Wave of Forced Liquidations

NEAR Drops 3% as Late-Session Liquidations Break Price Support

NEAR Protocol declined 3% over the past 24 hours, falling from $2.84 to $2.75, as institutional selling pressure intensified in the final trading hour, pushing the token below key support levels.

From Sideways Action to Breakdown

NEAR remained range-bound for most of the session between July 28 at 15:00 UTC and July 29 at 14:00 UTC, trading within a tight $0.18 band between $2.67 and $2.86. Despite this period of price stability, bearish sentiment gradually took hold.

The sharpest decline occurred in the final hour of trading, with NEAR slipping 2% from $2.78 to $2.73, signaling a shift away from consolidation and toward increased downside risk.

Key Technical Developments

NEAR’s price fluctuated within a 7% range between $2.67 and $2.86.
Strong resistance was observed at $2.83, capping multiple rebound attempts.
Temporary support formed around $2.73–$2.75, before being breached.
Peak selling volume topped 175,000 tokens between 13:50–13:52 UTC.
A breakdown on heavy volume suggests institutional liquidation triggered the move lower.
Diminishing volatility earlier in the session hinted at an impending directional breakout.

The late-session volume spike and breakdown indicate renewed bearish momentum. Without renewed buying interest, NEAR could continue to drift lower in the coming sessions.