Middle East Conflict Sparks Crypto Decline, Sending NEAR Protocol Down 6%

NEAR Protocol Holds Steady as Middle East Tensions Pressure Crypto Markets

Despite turbulent markets, NEAR Protocol continues to see growing adoption, boasting 46 million users—a sign that real-world use cases are expanding beyond pure speculation.

However, heightened geopolitical tensions between Iran and Israel are weighing on sentiment across the crypto sector, with NEAR among the tokens showing sensitivity to broader risk-off moves.

At present, NEAR has carved out significant support around the $2.09 to $2.10 range, where higher volumes suggest traders might be accumulating positions, even as the overall technical trend remains bearish.

Technical Insights:

NEAR-USD traded within a 6.1% intraday range, reaching a peak of $2.219 and dipping as low as $2.085, with the most intense selling concentrated between 15:00 and 16:00.
Heavy resistance emerged between $2.18 and $2.22, marked by trading volumes of 6.26 million and 4.94 million tokens.
Notably, strong buying interest surfaced in the $2.09–$2.10 zone during the 10:00 hour, hinting at potential accumulation at these lower levels.
The broader price structure remains bearish, defined by a sequence of lower highs.
Prices eventually stabilized in the $2.09 to $2.12 range, potentially setting the stage for a technical rebound.
In the final trading hour, NEAR-USD edged lower from $2.119 to $2.112.
A pronounced selloff occurred between 12:37 and 12:39, pushing the price to $2.105.
A key support band has formed between $2.106 and $2.108, which has been tested several times on rising volume, including a significant 68,050-token trade at 12:50.
In the closing minutes, NEAR made a slight recovery, bouncing from $2.105 to $2.112, suggesting the possibility of a double-bottom formation.
Short-term consolidation and diminishing selling volumes indicate that bearish momentum could be losing steam, though the broader outlook remains cautious.