NEAR Protocol Price Testing Support Despite Institutional Accumulation

The current price of NEAR Protocol at $2.37 is experiencing a 4.74% decline, testing a crucial support level despite recent institutional buying that helped propel an 8% recovery from the $2.52 support zone.

This pattern suggests that while institutional investors have been accumulating NEAR, providing some upward pressure, there remains significant selling activity that is pushing the price down towards key support levels. Such dynamics often indicate a market in consolidation, where institutional interest might stabilize the price, but broader selling pressures prevent a sustained rally.

Investors should monitor whether NEAR maintains its support level, as holding this range could signal a potential for a rebound, especially if institutional demand continues. However, a breakdown below the support may lead to further declines, emphasizing the importance of technical analysis in this period of price volatility.