Near the protocol saw increased volatility within 24 hours ending on August 14 at 2:00 p.m. UTC, the fluctuating prices between $ 2.78 and $ 3.05 before settling at $ 2.82.
The drop in resistance of $ 3.05 to support of $ 2.75 was fired by a strong institutional sale, totaling nearly 20 million tokens during advanced pressure. Despite this, the fundamental principles of assets remain strong, supported by a significant active user base of 16 million weekly participants.
In the hour which followed the sale, almost 0.35% at $ 2.83, negotiating in a controlled range of $ 0.07 between $ 2.81 and $ 2.85. Key institutional purchases appeared at several intervals, helping short -term resistance to short -term violation at $ 2.83 at $ 2.84 and reaching session tops of $ 2.85.
The negotiation volume took place at around 100,000 tokens per minute, suggesting an accumulation rather than a speculative retail activity, with preliminary support forming almost $ 2.81 to $ 2.82.
Market performance indicators reflect corporate mixed prospects
- Near the protocol recorded substantial price volatility with a negotiation range of $ 0.26 representing a movement of 8.53% between the top of the session of $ 3.05 and a bottom of $ 2.78.
- The cryptocurrency initially demonstrated an increase up of $ 2.90 to reach $ 3.05 during evening negotiation hours, establishing technical resistance at $ 3.04 to $ 3.05.
- Significant institutional sales took place on August 14 between 12: 00 and 13: 00 UTC with exceptional negotiation volumes of 19.99 million and 12.22 million tokens respectively.
- Daily negotiation activity has considerably exceeded the average 24 hours a day of 5.47 million tokens, reflecting increased institutional sale pressure.
- The market price fell to $ 2.75 before companies’ purchase interest supported a resumption of $ 2.82 at the session closure.
- The high volume institutional sales models suggest that the potential for risk of continuous decline despite modest attempts to take over, according to market strategists.
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