The cryptocurrency market is affected by the ramifications of prevailing uncertainty in the stock markets, as the protocol $NEAR declined.
by 5.01% from $2.16 to $2.06 during the period from June 25 to June 26.
The downward pressure peaked during a sharp sell-off between 1:36 PM and 1:51 PM on June 26, as $NEAR fell to its session low of $2.05 amidst heavy trading exceeding 154,000 tokens.
Technical Analysis
$NEAR formed a clear downward channel, with resistance at $2.17-$2.19 and support at $2.09-$2.10, which was eventually broken amidst heavy trading exceeding 3.9 million tokens during the 12:00 hour.
Trading volumes saw significant increases during the time frame from 9:00 AM to 12:00 PM with rising selling pressure, as the asset reached its lowest point at $2.05 during the 1:00 PM hour.
A potential double bottom pattern formed in the last 15 minutes of the analysis period, as buyers entered with increasing trading volumes, indicating the possibility of short-term stabilization.
The total price range over the last 24 hours reached $0.14 (6.55%), indicating significant fluctuations.
The Coin,,Desk 20 index fluctuated as early gains faded.
The CD20 index showed significant fluctuations during the last 24 hours from June 25 at 3:00 PM to June 26 at 2:00 PM, with a price range of $22.40 (1.29%).
After peaking at $1,762.50, the index fell to $1,740.10, as early upward momentum gave way to persistent selling pressure throughout the morning trading session.
This pattern has nearly erased all gains and suggests a potential continuation of the decline if the support level at $1,740 does not hold.