NEAR Protocol Establishes Support at $2.42 Amid Market Uncertainty
Global markets face increased uncertainty due to intensifying trade disputes. NEAR Protocol's NEAR has shown resilience, recovering from a 5.2% decline and establishing support at $2.42. Recent price actions indicate potential accumulation with increasing volume, suggesting buyers are regaining control.
Technical analysis
- NEAR-USD showed significant volatility, ranging 0.132 (5.2%) between a high of 2.547 and a low of 2.415.
- A sharp decline occurred during the 20:00 hour on June 4th, establishing support at 2.423 with above-average volume of 2.69M.
- A potential double bottom pattern formed on the second test of support, indicating accumulation.
- Resistance is identified around 2.462-2.470, with the recovery approaching this zone.
- In the last hour, NEAR-USD rose from 2.433 to 2.455, marking a 0.9% gain.
- Volume spikes were noted at 07:15 (206K) and 07:37 (120K), highlighting strong buyer interest.
- A peak of 2.462 was reached at 07:34 before a pullback to 2.445 established new support.
- The recovery culminated in a rise to 2.458 at 07:54, followed by consolidation around 2.455.