The cryptocurrency market reflects broader economic uncertainties as NEAR Protocol shows resilience amidst significant volatility. After a sharp drop to $1.79, NEAR has secured support at $1.83, with substantial purchasing interest observed particularly during periods of high trading volume.

Summary

• NEAR Protocol has increased by 7.4% after its recent decline, establishing key support at $1.83 backed by a strong recovery.
• Ongoing geopolitical tensions and trade disputes contribute to market uncertainties, resulting in significant price fluctuations for NEAR alongside broader economic concerns.

Technical Analysis Highlights

• NEAR-USD exhibited a trading range of 7.4% (1.79-1.94) within 24 hours, experiencing a sharp decline to 1.79 during hour 20, then recovering strongly.
• Established key support at 1.83, evidencing high-volume buying interest particularly noted during the 13th and 20th hours with volume surpassing 10 million units.
• The price tested 1.94 resistance during hour 7, transitioning to consolidation between 1.90-1.92, suggesting an accumulation phase.
• A clear upward trend is forming with higher lows confirmed at 1.899, 1.904, and 1.906 following previous volatility.
• Volume peaked around 11:38 with nearly 30 million units traded while testing the 1.908 resistance level.
• A brief retraction to 1.896 around 11:23 was promptly reversed, indicating 1.90 has become a significant support zone.
• Hourly close at 1.906 implies consolidation near the upper range, positioning NEAR for a potential recovery continuation.