NEAR Protocol Achieves 4.6% Increase as Trading Volume Rises Amid Uncertainty
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NEAR Protocol Achieves 4.6% Increase as Trading Volume Rises Amid Uncertainty

NEAR Protocol showcases robust bullish performance amidst economic fluctuations and global trade tensions.

Key Highlights:

  • NEAR Protocol exhibited notable bullish momentum, climbing from $2.479 to $2.593, a 4.60% increase.
  • Escalating US-China trade tensions affecting tech sectors are creating ripple effects across cryptocurrency markets, impacting NEAR.
  • The European Central Bank has hinted at potential rate cuts, providing a counterbalance to prevailing economic uncertainty.

The recent tariff conflict between the leading economic powers has heavily influenced technology-oriented assets. NEAR Protocol’s NEAR, now priced at $2.56, experienced considerable price fluctuations due to this instability. Meanwhile, central banks are attempting to navigate a difficult landscape of declining growth and ongoing inflation issues, creating a challenging atmosphere for both traditional and digital markets.

Technical Analysis

  • A significant increase in trading volume was observed between 1:00 PM and 3:00 PM, when the price broke past the $2.53 resistance level, with over 3 million units traded consecutively.
  • The price formed a cup-and-handle pattern, supported around $2.49-$2.50; a recovery noted late in the session following a 9:00 PM dip indicates renewed buying interest.
  • In the recent hour, NEAR-USD continued its upward trend, soaring from $2.541 to $2.562, marking a 0.82% rise.
  • A significant breakout was recorded around 1:25 AM with the price surpassing $2.55, as over 116,000 units traded, confirming strong buyer activity.
  • The hourly chart indicates the establishment of an ascending channel, with support situated at $2.547 and resistance at $2.562, indicating potential for upward movement towards the $2.58-$2.60 range if momentum persists.

For further updates, stay tuned to Crypto Daybook Americas Newsletter.

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