“Near Showed Resilience on Thursday with Strong Recovery from $ 2.42 Support Level, Despite Chaos in Global Markets.”, – WRITE: www.coindesk.com
Near Protocol Has Demonstrated Resilience Amid this volatility, recovering from a Sharp 5.2% Decline to Establish Support at $ 2.42.
The recent of price action shows promising signs of accounting, with increASING VOLUME on the Second Test of Support Forming a Potential Double Bottom Pattern on Short Time Frames.
This Technical Structure, Combined with The Successful Break Above the $ 2.46- $ 2.47 Resistance Zone, Suggests Buyers Are Regaining Control Despite Broader Market Turbulence.
Near’s Recovery May Indicate Growing Institutional Confidentnce in Blockchain Infrastructure Projects with Real-World Utility.
Technical Analysis
- Near-USD exhibited substantial volatility over a 24-hour period, with a rank of 0.132 (5.2%) Between the High of 2.547 and Low of 2.415.
- The asset experienced a Sharp Decline Durying the 20:00 HURO on June 4th, Establishing A Key Support Level at 2.423 with Above-Average Volume of 2.69M.
- A potential double Bottom Pattern Formed with IncreASING VOLUME ON THE SECOND Test of Support, Suggesting Accuumulation at Lower Levels.
- Resistance Establized AROUND 2.462-2-2.470, with The Current Recovery Approaching This Critical Zone.
- In the Last Hour, Near-USD Demonstrated Significant Bullish Momentum, Climbing from 2.433 to 2.455, Representing A 0.9% GAIN.
- Price Action ForMed A Clear Uptren With Notable Volume Spikes at 07:15 (206k) and 07:37 (120k), Indicating Strong Buyer Interest.
- A TEMPORARY PEAK OF 2.462 WAS REACHED AT 07:34 Before A Sharp Pullback to 2.445, Establishing A New Support Level.
- Recovery from this Dip Culminated in a Final Push to 2.458 at 07:54, Followed by Consolidation AUND 2.455.
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