What to know:
- NEAR Protocol is having a bit of a tantrum, swinging wildly between $2.219 and $2.085, as if it’s auditioning for a role in a soap opera. Strong selling pressure has set up a rather unwelcoming resistance around $2.18-2.22.
- Meanwhile, the Middle East is stirring the pot, sending shockwaves through the cryptocurrency markets, with NEAR feeling particularly peckish for drama.
- In a plot twist, despite the market’s melodrama, NEAR Protocol has managed to amass a staggering 46 million monthly active users, proving that it’s not just a pretty face in the crypto world, but a contender against the likes of Solana! 🎉
As the cryptocurrency market finds itself in a bit of a pickle, thanks to the escalating conflict between Iran and Israel, NEAR Protocol is proving to be quite sensitive to these geopolitical shenanigans. Who knew digital assets could be so dramatic?
Our dear digital asset has found a cozy little support zone around $2.09-2.10, where the trading volume suggests that some brave souls are attempting to accumulate, despite the overall gloomy atmosphere. 🌧️
Technical analysis
- NEAR-USD has been on a rollercoaster ride, showcasing a 6.1% trading range ($2.219 high to $2.085 low) with substantial selling pressure during the 15:00-16:00 timeframe. Buckle up!
- With above-average volumes of 6.26M and 4.94M, a key resistance zone has been established around $2.18-2.22, making it a no-go zone for the faint-hearted.
- Support has emerged at $2.09-2.10, with increased volume during the 10:00 hour, suggesting that some traders are feeling a bit more optimistic.
- However, the overall trend appears to be as gloomy as a rainy day, with lower highs forming throughout the period. ☔
- In the final hours, prices showed signs of stabilization, consolidating between $2.09-2.12, perhaps forming a base for a technical bounce. Fingers crossed!
- In the last hour, NEAR-USD continued its downward spiral, dropping from $2.119 to $2.112. Someone call for a lifeguard!
- A significant sell-off occurred between 12:37-12:39, when the price plummeted to $2.105. Ouch!
- A key support zone formed around $2.106-$2.108, tested multiple times with increasing volume (68,050 units at 12:50). Talk about resilience!
- The asset attempted a valiant recovery in the final minutes, climbing from $2.105 to $2.112, forming a potential double bottom pattern. Will it rise like a phoenix? 🔥
- Short-term consolidation with decreasing selling volume indicates possible exhaustion of bearish momentum, though the overall trend remains as negative as a rainy Monday morning.
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2025-06-18 17:59