Key Highlights:
- NEAR Protocol jumped 7.6% between July 1 and July 2, touching $2.18 amid exceptionally high trading activity.
- Bitwise introduced a new NEAR Staking ETP on Deutsche Börse Xetra, granting investors integrated staking benefits.
The AI-oriented NEAR token saw a rise of 7.6% on Wednesday following an unveiling by Bitwise regarding a NEAR staking exchange-traded product (ETP). NEAR’s value escalated from $2.09 to $2.13 from July 1 to July 2, ultimately breaking out to $2.18 supported by significant trading volume. This development is expected to attract institutional interest to NEAR.
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Technical Insights:
- NEAR-USD demonstrated a prominent bullish shift over the 24 hours from 1 July 15:00 to 2 July 14:00, rising from $2.09 to $2.13.
- A remarkable breakout happened between 04:00-06:00 on 2 July when the price soared to a peak of $2.18 on extraordinarily high volume, far surpassing the typical rate.
- This robust progression of $0.16 (representing 7.6%) highlights solid buying power, establishing crucial support at $2.02 with resistance around $2.17.
- Strategies indicating price stability above $2.11 in the concluding hours denote the potential for sustained upward movement.
