Summary of NEAR Protocol’s Performance

NEAR Protocol has posted impressive gains of 5% in the latest trading session, concluding at $2.27 on July 9, despite significant fluctuations during a volatile market period.

Key Information:

• NEAR’s performance took place in a 24-hour trading window concluding at 15:00 UTC.
• The increase in value aligns with Grayscale’s quarterly rebalancing, where NEAR was included with 28.41% weightage in its Decentralized AI Fund, alongside Bittensor at 29.10%.

NEAR/USD Chart

Market Analysis:

• Opening: $2.16, Closing: $2.27 resulting in a 5.09% gain.
• The token fluctuated within a range of $2.15 to $2.29.
• Volume spikes point to strong trading activity, reaching 4.16 million units in an hour, significantly above the 24-hour average of 1.87 million.
• Resistance is noted at $2.24 and support at $2.21.

The rise in NEAR’s price displays resilience amid market uncertainty, potentially ushering in a favorable period for altcoins, especially if Bitcoin maintains upward momentum.