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Updated Jun 23, 2025, 12:19 p.m. Published Jun 23, 2025, 12:19 p.m.
- 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.
STORY CONTINUES BELOW
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.
Oliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from and other sources to create timely market reports, with all external sources clearly attributed within each article.
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