NEAR Token Surges 4.6% Amid Market Volatility

NEAR Protocol's NEAR token experienced a notable surge of 4.6% amidst a backdrop of heightened volatility in the digital asset market. The price of NEAR, which was trading at $2.55, saw significant fluctuations due to the latest round of tariffs between major economic powers, particularly impacting technology-related assets. This volatility was further exacerbated by the complex economic landscape, where central banks are grappling with slowing growth and persistent inflation concerns, creating a challenging environment for both traditional and digital asset markets.

The technical analysis of NEAR's price movement revealed several key points. A notable volume surge occurred during the 13:00-15:00 timeframe when the price broke above the $2.53 resistance level, with volume exceeding 3 million units in consecutive hours. This confirmed strong buyer conviction and indicated a bullish sentiment among traders. The price action also formed a cup-and-handle pattern, with support established at $2.49-$2.50. The late session recovery from the 21:00 dip further suggested renewed buying interest, as the price continued its bullish momentum with a significant surge from $2.541 to $2.562, representing a 0.82% increase.

A notable breakout occurred at 01:25-01:26 when the price jumped above $2.55 with volume exceeding 116,000 units, confirming strong buyer conviction. The hourly chart showed 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 the current momentum persists. This technical analysis indicates that NEAR's price movement is driven by strong buying interest and bullish sentiment, despite the overall market volatility.