NEAR Protocol Surges 7% After Volatility Test, Establishes Key Support
The cryptocurrency market continues to reflect broader economic uncertainties as NEAR Protocol demonstrates resilience amid significant volatility.
After experiencing a sharp decline to $1.79, NEAR has established support at $1.83 with substantial buying interest, particularly during high-volume trading periods.
The token’s recovery momentum has formed a clear uptrend channel with higher lows, suggesting renewed buyer confidence despite ongoing market pressures.
Technical Analysis Highlights
- NEAR-USD experienced a 7.4% trading range (1.79-1.94) over 24 hours, with sharp decline to 1.79 during hour 20 followed by strong recovery.
- Key support established at 1.83 with high-volume buying interest, particularly during 13th and 20th hours where volume exceeded 10M units.
- Price tested 1.94 resistance level during hour 7, then consolidated between 1.90-1.92, suggesting accumulation phase.
- Clear uptrend channel formed with higher lows at 1.899, 1.904, and 1.906, confirming buyer interest following earlier volatility.
- Volume peaked during 11:38 period with nearly 30M units traded as price tested 1.908 resistance level.
- Brief pullback to 1.896 around 11:23 was quickly reversed, suggesting 1.90 has become significant support zone.
- Hourly close at 1.906 indicates consolidation near upper range, positioning NEAR for potential continuation of recovery.
