NEAR Dips Below $2.20 as Geopolitical Unrest Dampens Crypto Sentiment
Heightened conflict between Iran and Israel is roiling crypto markets, with NEAR Protocol among the altcoins under pressure despite strong network growth metrics.
NEAR has recently crossed a milestone of 46 million monthly users, reflecting growing adoption. Yet the token’s price has struggled to stay afloat amid the broader risk-off sentiment. It’s now trading at $2.11, down from highs of $2.38 as traders react to geopolitical headlines.
Technical Highlights
- NEAR fell from $2.387 to $2.189, marking an 8.29% drop.
- Heavy selling hit between 22:00–00:00 UTC, when hourly volumes surged past 6.5 million tokens, triple the daily average.
- A descending channel emerged, with resistance at $2.29 and support near $2.19.
- Price has consolidated near the lower edge of this channel, suggesting possible stabilization if buyers step in.
- A small recovery from $2.189 hinted at support holding firm.
- NEAR spiked from $2.200 to $2.218 in a volatile hour before falling back to $2.199.
- A brief bullish rally between 13:05–13:35 saw gains of 8.5% on increased volumes.
- Rejection at $2.218 sparked a fast sell-off between 13:41–13:44, with over 100,000 tokens traded.
- Fresh support has been established around $2.198.
Despite healthy fundamentals, NEAR faces ongoing pressure if geopolitical tensions persist, leaving traders cautious about near-term price action.
