Key Takeaways

• NEAR Protocol faced a stark decline of 5% over the past 24 hours due to escalating selling pressure.
• A recent ceasefire between Iran and Israel provided brief respite but failed to sustain the price gains for NEAR.

The broader cryptocurrency market is witnessing a downturn as NEAR Protocol dipped by 5.01%, sliding from $2.16 to $2.06 between June 25 and June 26.

The sell-off intensified between 13:36 and 13:51 on June 26, with NEAR hitting a session low of $2.05 amid significant trading volume exceeding 154K tokens.

Technical Insights

• NEAR established a clear bearish channel with resistance between $2.17-$2.19 and support around $2.09-$2.10, eventually breaking down with a trading volume surpassing 3.9M NEAR during the noon hour.
• Significant volume spikes were noticed between 09:00 and 12:00, driven by increased selling pressure, culminating in a low of $2.05 during the 13:00 hour.
• A potential double bottom pattern emerged in the last 15 minutes of this analyzed period as buyers returned with increased volume, hinting at possible short-term stabilization.
• The total price fluctuation over the last 24 hours recorded $0.14 (about 6.55%), highlighting considerable volatility.