NEAR Protocol Increases by 5% as Demand Grows Amid Middle East Unrest

What You Need to Know:

NEAR Protocol rose by 4.5% amid global trade disputes, showcasing its resilience despite overall market uncertainty.
Increased tensions between Iran and Israel have led to increased volatility in cryptocurrency markets; nevertheless, NEAR finds robust support at approximately $2.11-$2.12.

The cryptocurrency sector is facing increasing challenges amid geopolitical tensions in the Middle East. NEAR Protocol has showcased impressive strength, rising by 4.5% with considerable volume support around the $2.11-$2.12 range.

This performance happens as traditional markets struggle for direction amidst conflicting economic signals. NEAR’s robust performance coincides with increased trading activity, particularly during peak hours when volume hit 5.14 million units. The token is persistently testing resistance at $2.20, indicating ongoing interest despite broader economic concerns.

Technical Analysis

NEAR-USD demonstrated a considerable bullish breakout, moving from $2.124 to $2.170, with a notable 24-hour range of $0.095 (4.5%).
A significant high-volume support zone formed around $2.110-$2.120, where buyers consistently entered, particularly between 6 PM and 8 PM, when volume peaked at 5.14 million units.
A key resistance level appeared at $2.205-$2.210, tested twice but not breached, suggesting possible consolidation before the next upward movement.
The overall trend remains bullish with higher lows forming a supportive trendline, though recent hours exhibit diminishing momentum that necessitates caution.
In the last hour, NEAR-USD sustained its bullish trend with significant price action between $2.169 and $2.173, forming a higher low pattern that supports the broader uptrend.
Notable volume surges occurred at 1:21 PM and 1:39 PM, exceeding 65,000 and 83,000 units respectively, indicating strong buyer interest at these levels.
The price successfully held above the $2.170 support zone multiple times, culminating in a final push to $2.173 by the end of the period, indicating ongoing bullish sentiment despite some moments of consolidation.