NEAR Protocol Surges 10% Before Profit-Taking Halts Rally
"The NEAR Staking ETP on Xetra opens a new bridge to NEAR for institutions by providing a regulated, exchange-traded way to earn staking rewards," Illia Polosukhin told CoinDesk. "Investors gain compliant access to the NEAR ecosystem and user-owned AI without needing to handle private keys or node operations, and with full price transparency.'
The token has now established a key level of support at $2.26 as it looks to consolidate before continuing to the upside.
Technical analysis
NEAR established strong support at $2.26 with above-average volume during the 24-hour period from 2 July 16:00 to 3 July 15:00.
Price broke through the $2.30 resistance level in the early hours of 3 July, reaching a new high at $2.36 during the 08:00 hour with substantial volume confirmation.
The 23.6% Fibonacci retracement level provided support during the profit-taking phase, suggesting the underlying uptrend remains intact.
During the 60-minute period from 3 July 14:50 to 15:49, NEAR experienced a steep sell-off at 15:04-15:07, where volume spiked to over 310,000 units.
A new support zone has been established between $2.26-$2.27, with the closing price of $2.26 suggesting continued bearish pressure in the short term.
CoinDesk 20 Index Jumps 2% Before Late Session Selloff
Over the last 24 hours from 3 July 15:00 to 2 July 16:00, CD20 exhibited significant volatility with an overall range of $37.27 (2.11%), reaching a peak of $1,811.11 during the 14:00 hour on 3 July before sharply retracing to $1,791.50 by session close.
The asset demonstrated remarkable strength during the mid-session rally, gaining over $21 (1.18%) from its overnight low of $1,778.85, with particularly aggressive buying momentum observed during the 09:00 and 13:00 hours that suggests institutional accumulation despite the late session profit-taking.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New York Times
35 minutes ago
- New York Times
Chelsea, Aston Villa handed UEFA fines, spending restrictions for breaching financial rules
Chelsea and Aston Villa have been fined €31million and €11m respectively after breaching UEFA's financial rules. The Club Financial Control Body (CFCB) announced on Friday a series of disciplinary measures for clubs under monitoring for the 2024-25 season. The unconditional figures are split into a fine for breaking the governing body's football earnings rule (Chelsea €20m and Villa €5m) and another for being in breach of their squad cost rule (€11m and €6m). Advertisement The total fines for each club come to €91m and €26m, with the added conditional fine being part of a settlement agreement with UEFA that covers a four-year period for Chelsea and a three-year period for Villa. Chelsea and Villa were found to have a squad cost ratio above 80 per cent for 2024 and were awarded fines proportionate to the size of the excess. Both clubs will also limited in what they can spend with players on UEFA's List A for club competitions having to hold a positive transfer balance, i.e. the cost of players added must not exceed those being removed. Elsewhere, Barcelona were handed €15m in unconditional fines while Olympique Lyonnais (€12.5m), Besiktas (€900,000) Panathinaikos (€400,000) and Hajduk Split (€300,000) have also been sanctioned. Both Chelsea and Villa sold their women's teams to their respective parent holding companies – Chelsea to Blueco in May and Villa to V Sports at the end of June – in order to generate income and prevent losses that would have them breach the Premier League's profitability and sustainability rules (PSR). Unlike the Premier League, however, UEFA does not allow for the sale of tangible assets to sister or parent companies to count towards their Financial Fair Play (FFP) rules. The Athletic reported in July that senior figures describe UEFA's squad cost rules as the most serious challenge that faces Villa, with compliance a difficult task. Aston Villa sources, speaking on the condition of anonymity as they were not authorised to do so publicly, feel comfortable in their abilities to perform on a domestic and European front despite the sanctions. The Athletic has approached Chelsea for comment although club sources in April, also speaking anonymously, noted that co-owners Clearlake Capital and Todd Boehly were relaxed about their position. Advertisement In September 2022, UEFA charged eight clubs with failing to comply with FFP rules, including Ligue 1 champions Paris Saint-Germain, who were sanctioned with a €10m fine after failing to stay within spending limits. At the same time PSG were hit with a financial sanction, the Club Financial Control Body (CFCB) First Chamber, an independent panel within UEFA tasked with policing FFP, announced that Chelsea, along with multiple clubs competing in Europe in 2021-22, were going to be 'monitored closely'.
Forbes
35 minutes ago
- Forbes
FC Barcelona Agrees To Mammoth $70 Million Fine From UEFA
FC Barcelona has been hit with a mammoth $70 million fine from UEFA. More bad news for FC Barcelona, as the Catalans have been hit with a mammoth $70 million fine from European soccer governing body UEFA for a Financial Fair Play (FFP) violation in the financial years of 2023 and 2024. 'The First Chamber of the CFCB determined that HNK Hajduk Split (CRO), Aston Villa FC (ENG), Chelsea FC (ENG), FC Barcelona (ESP), Olympique Lyonnais (FRA) and FC Porto (POR) failed to comply with the rule on football revenue, applied for the first time in the 2024/25 season. The analysis covered the financial years ending in 2023 and 2024,' began a statement from UEFA. "In assessing clubs' compliance with the football earnings rule, the CFCB paid particular attention to transactions involving the sale of tangible or intangible assets, the exchange of players (so-called "swaps") and transfers of players between related parties. Clubs were required to make adjustments, as profits from such transactions cannot be recognised as material income under the UEFA Club Licensing and Financial Sustainability Regulations, 2024 Edition (the "Regulations")," it added. "HNK Hajduk Split, Aston Villa FC, Chelsea FC, FC Barcelona and Olympique Lyonnais reached agreements with the CFCB for a period of 2, 3 or 4 years. The length of each agreement depends on the clubs' ability to comply with the Regulations within a specific timeframe. The ultimate goal of clubs is to fully comply with the rule on football revenues at the end of the settlement period (i.e. in the 2026/27 season for a period of 2 years, in the 2027/28 season for a period of 3 years, in the 2028/29 season for a period of 4 years). All clubs agreed to pay a fine (conditional and unconditional), the amount of which is based on the amount of the breach. The transactional agreements, which cover a period of 4 years, also consider the expected financial result for the fiscal year ending in 2025," it concluded. UEFA then listed the clubs, the length of time they have to get their finances in order, the fine they will be hit with if not, and how much of the sum is unconditional. In short, FC Barcelona has been fined $70 million (€60 million) of which $17.7 million (€15 million) is unconditional and must be paid already. If it doesn't get its act together in two years, the whole amount will then be payable. More bad news for FC Barcelona On the same day it learned that Nico Williams had snubbed it to sign a 10-year extension with Athletic Club, despite reportedly having an agreement in place with the Euro 2024 winner, this is more bad news for FC Barcelona which is still in many ways recovering from its economic crisis at the turn of the decade. It was expecting this punishment to be handed down by UEFA, though the timing could have been better on a rough day for Culers.
Yahoo
38 minutes ago
- Yahoo
Bank of Italy selects 4 systemic risk countries for lenders, including Russia
MILAN (Reuters) -The Bank of Italy said on Friday it had selected the United States, Great Britain, Switzerland and Russia as countries outside the European Union that its banks have significant exposure to, under rules designed to govern systemic risks. The Bank of Italy used end-2024 data to measure banks' exposure to those countries in relation to their overall exposure. Top Italian lenders Intesa Sanpaolo and UniCredit are both present in Russia, the former serving only corporate clients while the latter owns a retail bank. UniCredit said in an update of the investor document relating to its takeover bid for Banco BPM that its Russian unit had increased its holdings of local government bonds in the first quarter to 754 million euros ($888.06 million) from 574 million in December. ($1 = 0.8490 euros) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
