NEAR Protocol Holds Crucial Support as Geopolitical Tensions Weigh on Crypto Markets
Even amid market turbulence, NEAR Protocol continues to expand its footprint, now boasting 46 million users—a sign that adoption is growing beyond pure speculation.
Yet broader crypto markets remain on edge as escalating tensions between Iran and Israel inject risk aversion into trading. NEAR, like many altcoins, has been sensitive to this macro backdrop.
Currently, NEAR is finding significant support around the $2.09 to $2.10 level, where increased trading volumes hint at possible accumulation despite an overall bearish trend.
Technical Breakdown:
- NEAR-USD fluctuated within a 6.1% trading range on the day, hitting a high of $2.219 and dipping as low as $2.085. The heaviest selling activity was seen between 15:00 and 16:00.
- Resistance is well-established between $2.18 and $2.22, backed by significant volume spikes of 6.26 million and 4.94 million tokens.
- Buyers stepped in strongly at the $2.09–$2.10 zone during the 10:00 hour, indicating potential accumulation at those levels.
- Despite that support, the broader price structure remains bearish, marked by a series of lower highs.
- Prices consolidated between $2.09 and $2.12 in the latter part of the session, suggesting a possible base for a rebound.
- During the final trading hour, NEAR-USD slipped from $2.119 to $2.112.
- A sharp selloff occurred between 12:37 and 12:39, driving the price down to $2.105.
- Key support has emerged between $2.106 and $2.108, repeatedly tested on higher volumes, including a notable 68,050-token trade at 12:50.
- In the closing moments, NEAR showed a modest rebound, climbing from $2.105 to $2.112, hinting at a potential double-bottom pattern.
- While consolidation and declining selling volume suggest fading bearish momentum, the overall market outlook remains cautious for now.
