$NEAR Protocol Drops 6% Amid Middle East Tensions

💥 NEAR Faces Price Volatility

NEAR Protocol experienced significant price fluctuations, trading between $2.219 and $2.085 in the last 24 hours, with resistance forming around $2.18-$2.22 due to strong selling pressure.

🌍 Geopolitical Tensions Affect Crypto

Rising conflict in the Middle East, particularly between Iran and Israel, is causing a ripple effect across global cryptocurrency markets, with NEAR especially impacted by these geopolitical developments.

📊 Technical Analysis of NEAR’s Price Movement

High: $2.219

Low: $2.085

Resistance Zone: $2.18-$2.22

Support Zone: $2.09-$2.10, with increasing volume indicating potential accumulation.

Despite the bearish trend, NEAR briefly stabilized between $2.09-$2.12, suggesting a potential technical bounce.

🔄 Market Sentiment & Recovery Attempts

In the last hour, NEAR saw a slight recovery from $2.105 to $2.112, forming a possible double bottom pattern. However, the overall trend remains negative, with bearish momentum showing signs of exhaustion.

📈 Adoption Remains Strong

Despite recent price drops, NEAR Protocol continues to grow, now with 46 million monthly active users, signaling strong adoption beyond speculative trading. It’s closing the gap with major networks like Solana.

⚠️ Short-Term Outlook

While selling pressure remains high, there’s a potential for accumulation near the support levels of $2.09-$2.10, suggesting a possible price rebound if market sentiment improves.

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