The cryptocurrency market faces increasing pressure due to escalating tensions between Iran and Israel in the Middle East.
The $NEAR protocol showed
Remarkable resilience, as it rose by 4.5% with strong trading volume support in the $2.11-$2.12 range.
This performance comes at a time when traditional markets struggle to find their direction amid conflicting economic indicators.
The strong performance of $NEAR coincides with increased trading activity, particularly during peak hours when trading volume reached 5.14 million units. The token continues to test the resistance level at $2.20, indicating ongoing interest despite broader economic concerns.
Technical Analysis
The #NEARUSDT pair saw a notable increase, rising from $2.124 to $2.170, with a significant trading range over the 24-hour period of $0.095 (4.5%).
A clear high-volume support area formed around $2.110-$2.120, where buyers continued to enter, particularly during the time frame from 18:00 to 20:00 when trading volume peaked at 5.14 million units.
A key resistance level appeared at $2.205-$2.210, tested twice but failed to break through, indicating the possibility of consolidation before the next rise.
The general trend remains bullish, with higher lows forming a supportive trend line, although recent hours have shown a decrease in momentum that calls for caution.
In the last hour, the NEAR-USD pair maintained its upward momentum with notable price movements between $2.169 and $2.173, forming a higher low pattern that reinforces the broader bullish trend.
Notable spikes in trading volume occurred at 13:21 and 13:39, exceeding 65,000 and 83,000 units respectively, indicating strong buyer interest at these levels.
The price successfully tested the $2.170 support area and held above it several times, leading to a final push to $2.173 by the end of the period, indicating continued bullish sentiment despite some phases of consolidation.