Latest news with #NEAR-USD
Yahoo
8 hours ago
- Business
- Yahoo
NEAR Protocol Surges 4% After 12.8% Correction, User Growth Shines
Conflict between Israel and Iran spurred a crypto market sell-off on Friday, with NEAR Protocol experiencing significant price volatility despite impressive adoption metrics. The protocol has emerged as a leading Layer-1 solution, surpassing established competitors like Ethereum, Binance Chain, and Tron in monthly active users, highlighting a growing shift in user preferences toward platforms offering lower transaction costs and improved usability. Market analysts note that NEAR's recent price correction occurred despite its strong fundamentals, with the token currently trading below key technical indicators. The protocol's focus on user-friendly infrastructure, including features like account abstraction and chain signatures, has positioned it as an attractive option for both developers and users in the blockchain space, particularly as it expands into AI applications and web3 consumer apps. While short-term price action remains uncertain with support at $2.20 and resistance at $2.30, NEAR's remarkable user growth suggests potential for recovery if broader market conditions improve and institutional interest continues to develop around its expanding ecosystem. Technical Analysis NEAR-USD underwent a significant correction, plummeting from $2.50 to a low of $2.18, representing a 12.8% decline over the 24-hour period. The most intense selling occurred during the midnight hours (00:00-02:00), with exceptionally high volume (5.4-6.9 million) establishing a strong resistance zone around $2.37. A modest recovery attempt emerged from the $2.18 support level, with price stabilizing in the $2.21-$2.25 range, though the bounce lacked conviction as evidenced by diminishing volume during recovery phases. The formation of lower highs and higher lows since the initial drop suggests consolidation, with immediate support at $2.20 and resistance at $2.30 likely determining the next directional move. In the last hour, NEAR-USD demonstrated significant volatility with a strong recovery from the earlier correction, climbing from $2.217 to a peak of $2.239 before consolidating. The most notable price action occurred between 13:31-13:40, where NEAR surged nearly 4% on exceptionally high volume (86,916-147,856 units), establishing a new resistance zone around $2.235. A brief pullback to $2.214 at 13:54 found immediate support, with buyers stepping in to push prices back above $2.22. The hourly close at $2.223 represents a 0.5% gain from the opening price, with volume patterns suggesting accumulation following the earlier sell-off, potentially indicating a short-term trend reversal if prices can maintain above the $2.22 support level. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
NEAR Protocol Plunges 9% as Volatility Spikes Despite User Growth
The NEAR Protocol token is navigating through a period of heightened volatility, showing a clear downtrend with strong resistance at $2.730 and support emerging at $2.445. Recent price action indicates modest recovery from lows but remains below key resistance levels, suggesting continued bearish sentiment despite entering a slight consolidation phase. This technical pressure comes at a time when NEAR's network fundamentals show remarkable growth, having surpassed Ethereum, Binance Chain, and Tron in monthly active users. Technical analysis NEAR-USD dropped 8.6% from $2.696 to $2.492 over the analyzed period, showing clear downward pressure. Significant volume spikes occurred during key sell-offs at 17:00 on June 11 and 08:00 on June 12, both coinciding with price breakdowns. Strong resistance has formed at $2.730, while support emerged at $2.445 with high volume, suggesting potential stabilization. Recent hourly data shows a 0.7% recovery from a local bottom of $2.476, supported by volume spikes at 13:38, 13:54, and 14:01. Price formed an ascending channel with support at $2.481 and resistance at $2.495, though NEAR remains below key resistance levels.
Yahoo
06-06-2025
- Business
- Yahoo
NEAR Protocol Surges 5% After Forming Bullish Support Pattern
Global markets are navigating heightened uncertainty following a public spat between U.S. President Donald Trump and Tesla CEO Elon Musk. NEAR Protocol has demonstrated resilience amid this volatility, recovering from a sharp 5.2% decline to establish support at $2.42. The recent price action shows promising signs of accumulation, with increasing volume on the second test of support forming a potential double bottom pattern on short time frames. This technical structure, combined with the successful break above the $2.46-$2.47 resistance zone, suggests buyers are regaining control despite broader market turbulence. NEAR's recovery may indicate growing institutional confidence in blockchain infrastructure projects with real-world utility. NEAR-USD exhibited substantial volatility over a 24-hour period, with a range of 0.132 (5.2%) between the high of 2.547 and low of 2.415. The asset experienced a sharp decline during the 20:00 hour on June 4th, establishing a key support level at 2.423 with above-average volume of 2.69M. A potential double bottom pattern formed with increasing volume on the second test of support, suggesting accumulation at lower levels. Resistance established around 2.462-2.470, with the current recovery approaching this critical zone. In the last hour, NEAR-USD demonstrated significant bullish momentum, climbing from 2.433 to 2.455, representing a 0.9% gain. Price action formed a clear uptrend with notable volume spikes at 07:15 (206K) and 07:37 (120K), indicating strong buyer interest. A temporary peak of 2.462 was reached at 07:34 before a sharp pullback to 2.445, establishing a new support level. Recovery from this dip culminated in a final push to 2.458 at 07:54, followed by consolidation around 2.455. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Sign in to access your portfolio
Yahoo
05-06-2025
- Business
- Yahoo
NEAR Surges 5% After Forming Bullish Support Pattern
Global markets are navigating heightened uncertainty as trade disputes between major economies intensify. NEAR Protocol's NEAR has demonstrated resilience amid this volatility, recovering from a sharp 5.2% decline to establish support at $2.42. The recent price action shows promising signs of accumulation, with increasing volume on the second test of support forming a potential double bottom pattern. This technical structure, combined with the successful break above the $2.46-$2.47 resistance zone, suggests buyers are regaining control despite broader market turbulence. As central banks weigh inflation concerns against economic growth, NEAR's recovery may indicate growing institutional confidence in blockchain infrastructure projects with real-world utility. NEAR-USD exhibited substantial volatility over a 24-hour period, with a notable range of 0.132 (5.2%) between the high of 2.547 and low of 2.415. The asset experienced a sharp decline during the 20:00 hour on June 4th, establishing a key support level at 2.423 with above-average volume of 2.69M. A potential double bottom pattern formed with increasing volume on the second test of support, suggesting accumulation at lower levels. Resistance established around 2.462-2.470, with the current recovery approaching this critical zone. In the last hour, NEAR-USD demonstrated significant bullish momentum, climbing from 2.433 to 2.455, representing a 0.9% gain. Price action formed a clear uptrend with notable volume spikes at 07:15 (206K) and 07:37 (120K), indicating strong buyer interest. A temporary peak of 2.462 was reached at 07:34 before a sharp pullback to 2.445, establishing a new support level. Recovery from this dip culminated in a final push to 2.458 at 07:54, followed by consolidation around 2.455. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
04-06-2025
- Business
- Yahoo
NEAR Surges 4.6% as Volume Spikes Amid Volatility
The latest round of tariffs between economic superpowers has particularly affected technology-related assets, with NEAR Protocol's NEAR NEAR experiencing significant price volatility amid the uncertainty. Meanwhile, central banks are navigating a complex landscape of slowing growth and persistent inflation concerns, creating a challenging environment for both traditional and digital asset markets. Notable volume surge occurred during the 13:00-15:00 timeframe when price broke above the $2.53 resistance level, with volume exceeding 3 million units in consecutive hours, confirming strong buyer conviction. Price action formed a cup-and-handle pattern with support established at $2.49-$2.50, while the late session recovery from the 21:00 dip suggests renewed buying interest. In the last hour, NEAR-USD continued its bullish momentum with a significant price surge from $2.541 to $2.562, representing a 0.82% increase. A notable breakout occurred at 01:25-01:26 when price jumped above $2.55 with volume exceeding 116,000 units, confirming strong buyer conviction. The hourly chart shows the formation of an ascending channel with support at $2.547 and resistance at $2.562, suggesting potential continuation toward the $2.58-$2.60 range if current momentum persists. Sign in to access your portfolio
