NEAR Sinks 5% as Price Stalls at Resistance; Bitwise Unveils Fresh ETP

NEAR Drops 5% as Resistance Holds Strong, Bitwise ETP Launch Fails to Buoy Price

NEAR Protocol’s token declined by 5% on Friday, as the broader crypto market weakened and resistance levels capped further upside—even as Bitwise launched a new exchange-traded product focused on the asset.

The debut of the Bitwise NEAR Staking ETP, designed to offer regulated investors exposure to NEAR’s staking yields, was a major development. However, it failed to offset market-wide bearish sentiment. NEAR’s drop aligned with a wider pullback in cryptocurrencies, including Bitcoin, which retreated after nearing its all-time high.

NEAR-USD Technical Summary

From July 3 at 15:00 to July 4 at 14:00, NEAR fell $0.124 (5.42%), sliding from $2.294 to $2.170.
Strong resistance emerged between $2.290 and $2.298, where multiple upward moves were rejected.
The token broke through the $2.220 support level on heavy volume during the 04:00 hour, with 2.7 million tokens traded.
Selling pressure increased further at 07:00, as volume jumped to 2.83 million and prices dropped to $2.172. A potential double bottom pattern is forming, with a similar low at $2.167 seen in the 13:00 candle.
In the hour from 13:06 to 14:05 on July 4, NEAR declined another $0.018 (0.82%), falling from $2.192 to $2.170.
Resistance near $2.177 held firm, with several failed attempts to break above it.
A sharp sell-off occurred between 13:37 and 13:39, pushing the price from $2.174 to $2.169 on volume of 119,000.
NEAR briefly rebounded to $2.175 at 13:53 on 77,000 volume but quickly lost momentum, stabilizing between $2.169 and $2.171 to close the session.

CD20 Index Drops Nearly 2% Amid Market Sell-Off

The CD20 Index, which tracks the performance of leading digital assets, also saw a sharp decline, dropping 1.81% from $1,788.41 on July 3 at 17:00 to $1,756.06 on July 4 at 16:00—a loss of $32.35.

The index fluctuated within a 2.56% range during this period, peaking at $1,801.60 at 21:00 before sliding lower. The heaviest losses came after 13:00 on Friday, with the index falling nearly $15 in one hour, highlighting intensified bearish sentiment across the crypto sector.