coindesk.com
The cryptocurrency market faces mounting pressure due to escalating tensions between Iran and Israel in the Middle East.
$NEAR Protocol has demonstrated remarkable resilience, climbing 4.5% with significant volume support around the $2.11-$2.12 range.
This performance comes as traditional markets struggle to find direction amid conflicting economic signals.
$NEAR's strong performance coincides with heightened trading activity, particularly during peak hours when volume reached 5.14M units. The token continues to test resistance at $2.20, suggesting continued interest despite broader economic concerns.
Technical Analysis
- $NEAR-USD experienced a significant bullish breakout, climbing from $2.124 to $2.170, with a notable 24-hour range of $0.095 (4.5%).
- A clear high-volume support zone formed around $2.110-$2.120, where buyers consistently stepped in, particularly during the 18:00-20:00 timeframe when volume peaked at 5.14M units.
- Key resistance level emerged at $2.205-$2.210, tested twice but failing to break through, suggesting potential consolidation before the next leg up.
- Overall trend remains bullish with higher lows forming a supportive trendline, though recent hours show decreasing momentum that warrants caution.
- In the last hour, $NEAR-USD continued its bullish momentum with significant price action between $2.169 and $2.173, forming a higher low pattern that reinforces the broader uptrend.
- Notable volume spikes occurred at 13:21 and 13:39, with over 65,000 and 83,000 units respectively, indicating strong buyer interest at these levels.
- Price successfully tested and held above the $2.170 support zone multiple times, culminating in a final push to $2.173 by the end of the period, suggesting continued bullish sentiment despite some consolidation phases.