NEAR Protocol Faces Price Volatility Amidst Global Economic Uncertainty
NEAR Protocol's price reflects broader market turbulence due to global economic uncertainty. Key points include:
- Price volatility in the last 24 hours between $2.38 and $2.49.
- Influenced by US-China trade disputes affecting technology assets.
- Mixed outlook from the European Central Bank on rate cuts amid slowing inflation.
- Middle East conflicts causing sanctions that impact oil prices, adding to market volatility.
Technical Analysis
- Support zone at $2.38-$2.40 with strong buying volume over 2.5 million units.
- Bearish momentum indicated by a descending trendline after reaching $2.481.
- Bullish gain of 1.67% from $2.399 to $2.439 with resistance breakthrough at $2.420.
- Pullback to $2.399 followed by recovery to $2.414 showing buyer interest at $2.400.
- Price stabilization suggests potential upward movement if volume support continues.