Middle East Unrest Sends NEAR Tumbling 8% as Crypto Markets React

NEAR Declines 8% as Geopolitical Turmoil Overshadows User Growth Milestone

Escalating tensions in the Middle East, driven by the ongoing conflict between Iran and Israel, have triggered fresh volatility across crypto markets, putting significant pressure on altcoins like NEAR Protocol.

This comes even as NEAR Protocol celebrated a major achievement, reaching 46 million monthly active users, underscoring strong ecosystem growth. However, the milestone hasn’t shielded the token from the broader market sell-off sparked by geopolitical uncertainty.

NEAR has fallen to $2.11, slipping from recent highs near $2.38, as traders remain cautious amid heightened global risks.

Technical Analysis Recap

NEAR dropped sharply from $2.387 to $2.189, marking an 8.29% decline during the session.
Selling pressure surged between 22:00 and 00:00 UTC, pushing trading volume past 6.5 million tokens in one hour—about triple the typical daily average.
The price formed a descending channel, with resistance noted at $2.29 and support at $2.19.
Recent price action has settled near the lower end of this channel, signaling potential stabilization if buyers defend current levels.
A modest rebound lifted NEAR from $2.189, suggesting early signs of a possible base forming.
Volatility spiked in the final hour, with NEAR climbing from $2.200 to $2.218, before correcting back to $2.199.
A brief bullish channel developed between 13:05 and 13:35, yielding an 8.5% gain on notable volume spikes.
However, a sharp rejection at $2.218 led to a rapid sell-off between 13:41 and 13:44, with over 100,000 tokens changing hands, confirming a bearish reversal.
New support has formed at $2.198, aligning with the lower boundary of the descending channel.

Despite robust network growth, NEAR remains sensitive to external geopolitical shocks, leaving traders watchful for further signals of either recovery or deeper downside risk.