NEAR Protocol has emerged as a bright spot in the cryptocurrency sector, surging 6.1% over the past 24 hours despite the uncertain macroeconomic environment.
The token established solid support at $2.174 before decisively breaking above the $2.300 resistance level with above-average trading volume.
The recovery comes after a market-wide sell-off last week due to the escalating conflict in the middle east between Iran and Israel.
Investors are closely monitoring how traditional market volatility might impact digital assets, with NEAR’s recent price action suggesting some cryptocurrencies may offer relative stability during periods of global economic uncertainty.
Technical Analysis
- NEAR-USD climbed from $2.219 to $2.350, representing a 6.1% gain with a price range of $0.182.
- The token established a solid support level at $2.174 during the early hours.
- A decisive breakout above $2.300 occurred with significantly above-average volume (3.05M) in the 13:00 hour.
- Key resistance levels at $2.324 were overcome as the price formed a series of higher lows.
- Strong buying momentum emerged during the 01:00-02:00 and 05:00-07:00 periods.
- In the last hour, NEAR-USD experienced a significant bullish breakout, surging from $2.321 to $2.353 (1.38% gain).
- A key resistance level at $2.324 was decisively broken at 13:30.
- The token briefly reached a local high of $2.354 at 14:00 before minor consolidation.
- New support established at $2.348, suggesting continued bullish sentiment.