Crypto Markets/Finance
NEAR Protocol Experiences Initial 3% Decline But Mounts Recovery with Significant Volume
NEAR Protocol saw a temporary decline of 3% but rebounded significantly, showcasing the volatility and resilience in the crypto market.
1 min read
NEAR Protocol suffered a 3% drop on Tuesday, following a market-wide sell-off that influenced Bitcoin’s price adjustment from $123,000 to $117,000.
However, it demonstrated a robust recovery around 1:00 PM UTC, rebounding from $2.54 to $2.56. Currently, NEAR is trading at $2.52, maintaining a crucial support level just above $2.50. A decline below $2.48 could lead towards support at $2.34, which had previously bolstered last Thursday’s upswing.
Key Points
- Traditional market supports for NEAR are established between $2.48 and $2.52; further declines could interrupt its positive trajectory.
- Resistance appears at around $2.57 to $2.60, reflecting heightened institutional trading and increased activity levels.
- A breakout beyond Monday’s peak of $2.70 could escalate prices towards $2.91 and $3.12.
NEAR/USD Chart
Disclaimer: Portions of this text utilized AI-generated components, supplemented by human oversight to ensure accuracy and adherence to guidelines.
