NEAR Protocol Surges 5% as Buyers Dominate Amid Middle East Tensions
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.
