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NEAR Protocol Surges 7% After Volatility Test, Establishes Key Support
Market recovery gains momentum as trading volume confirms renewed buyer interest at critical levels.
Updated Jun 23, 2025, 12:19 p.m. Published Jun 23, 2025, 12:19 p.m.
What to know:
- NEAR Protocol rebounds 7.4% after sharp decline, establishing key support at $1.83 with strong volume-supported recovery.
- Geopolitical tensions and trade disputes create market uncertainty, with NEAR experiencing significant price swings amid broader economic concerns.
The cryptocurrency market continues to reflect broader economic uncertainties as NEAR Protocol demonstrates resilience amid significant volatility.
After experiencing a sharp decline to $1.79, NEAR has established support at $1.83 with substantial buying interest, particularly during high-volume trading periods.
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The token's recovery momentum has formed a clear uptrend channel with higher lows, suggesting renewed buyer confidence despite ongoing market pressures.
Technical Analysis Highlights
- NEAR-USD experienced a 7.4% trading range (1.79-1.94) over 24 hours, with sharp decline to 1.79 during hour 20 followed by strong recovery.
- Key support established at 1.83 with high-volume buying interest, particularly during 13th and 20th hours where volume exceeded 10M units.
- Price tested 1.94 resistance level during hour 7, then consolidated between 1.90-1.92, suggesting accumulation phase.
- Clear uptrend channel formed with higher lows at 1.899, 1.904, and 1.906, confirming buyer interest following earlier volatility.
- Volume peaked during 11:38 period with nearly 30M units traded as price tested 1.908 resistance level.
- Brief pullback to 1.896 around 11:23 was quickly reversed, suggesting 1.90 has become significant support zone.
- Hourly close at 1.906 indicates consolidation near upper range, positioning NEAR for potential continuation of recovery.
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