Protocol $NEAR
increased by 7% after volatility testing, establishing a key support
The cryptocurrency market still reflects a broader economic uncertainty, as Protocol $NEAR shows resilience amid significant fluctuations.
After a sharp drop to $1.79, the currency #NEAR stabilized at $1.83, amid a strong buying interest, especially during high-volume trading periods.
The momentum of the currency's recovery formed a clear upward channel with higher lows, indicating renewed buyer confidence despite ongoing market pressures.
Key Technical Analysis
The NEAR-USD pair witnessed a trading range of 7.4% ($1.79-$1.94) over 24 hours, with a sharp drop to $1.79 during the twentieth hour, followed by a strong rebound.
The main support was established at $1.83, amid strong buying interest, especially during the thirteenth and twentieth hours, where trading volume exceeded 10 million units.
The price tested the resistance level of $1.94 during the seventh hour, then stabilized between $1.90 and $1.92, indicating an accumulation phase.
A clear upward channel was formed with higher lows at $1.899, $1.904, and $1.906, confirming buyer interest after previous fluctuations.
Trading volume peaked during the period of 11:38, with nearly 30 million units traded, as the price tested the resistance level of $1.908.
The short pullback to $1.896 around 11:23 quickly reversed, indicating that $1.90 has become an important support area.