Near the protocol experienced a strong increase between August 12, 4:00 p.m. and August 3:00 p.m., from $ 2.75 to $ 2.91 for a gain of 5.82% on negotiation volumes over $ 7.6 million. Institutional entries played a key role, the cryptocurrency breaking several levels of resistance and establishing firm support at $ 2.76. The volume tips during the rupture phases exceeded twice the average of 24 hours, reflecting an increased conviction of the market and positioning near a potential movement towards the psychological threshold of $ 3.00.
In the last 60 minutes of August 13, 14:40 at 3:39 p.m., almost displayed notable volatility, going from $ 2.92 to $ 2.91 after reaching a session of $ 2.94 and a hollow of $ 2.88. The resistance rejection at $ 2.94 coincided with a net sale at 3:09 p.m., where the volumes exceeded 396,000. This was followed by stabilization of the range of $ 2.90 to $ 2.91 with decreased volumes, indicating a temporary balance after an intense price discovery phase.
A wider market dynamic favored nearby in the context of a trend towards the infrastructure of the layer-1 blockchain during a recovery phase. Global Cryptocurrency Investment Products experienced $ 572 million in entries, and attracting almost the interests of notable investors alongside Solana and XRP. The protocol user basis has reached 16 million weekly active participants – at 18.4% and exceeding 14.8 million Solana, supported by strategic partnerships with Aurora Labs and expanding the engagement of developers, highlighting its strong long -term growth prospects.
Presentation of technical indicators
- Robust support established at $ 2.76 with a substantial confirmation of volume during negotiation hours early in the morning.
- Resistance level identified nearly $ 2.94 with several observed rejection attempts.
- The volume peaks exceeded 7.6 million during the rupture phases, significantly greater than the average 24 hours out of 24 of 3.5 million.
- A sustained ascending trajectory with higher low formation indicates a continuous bullish feeling.
- Classic resistance rejection model at a level of $ 2.94 with peaks of volume substantial greater than 396,000.
- The consolidation of around $ 2.90 to $ 2.91 with a decreased volume suggests a temporary balance.
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