Strong Fundamentals Shine Amid Market Volatility
NEAR Protocol surged 4% following a sharp 12.8% correction, regaining traction amid a turbulent market sparked by Middle East tensions. After falling from $2.50 to $2.18, NEAR rebounded to $2.239 before consolidating near $2.223, as buyers returned to the market with renewed interest.
The correction followed Israel’s bombing campaign in Iran, which triggered a widespread sell-off across risk assets including crypto.
Despite the short-term price dip, NEAR has made headlines for becoming the second most used Layer-1 blockchain, surpassing platforms like Ethereum, BNB Chain, and Tron in monthly active users, with over 46 million users reported.
User-Centric Features Fuel Adoption
NEAR’s growth is being driven by its focus on user-friendly infrastructure. Features such as account abstraction, chain signatures, and low transaction fees are attracting both developers and users alike. The protocol is also expanding into AI and Web3 consumer applications, further widening its appeal.
Strong adoption metrics signal a fundamental shift toward usability and scalability over legacy blockchain dominance.
Technical Analysis: Support Holding, Momentum Building
- NEAR-USD corrected 12.8%, falling from $2.50 to $2.18 within 24 hours.
- The heaviest selling occurred between 00:00–02:00 UTC, with volume peaking at 6.9 million, creating strong resistance around $2.37.
- A recovery attempt emerged from $2.18, stabilizing the price in the $2.21–$2.25 range.
- Between 13:31–13:40 UTC, NEAR surged 4%, peaking at $2.239, on exceptionally high volume (86,916–147,856 units).
- A brief pullback to $2.214 at 13:54 was met with buyer demand, pushing the price back above $2.22.
- The hourly candle closed at $2.223, a 0.5% intraday gain, suggesting potential accumulation and a short-term trend reversal if prices hold above $2.22 support.
Conclusion: Bullish Reversal Possible if Support Holds
NEAR’s rebound, backed by record-breaking user growth, demonstrates the project’s resilience even during macro-driven sell-offs. If support at $2.22 continues to hold, and accumulation patterns persist, NEAR Protocol may regain bullish momentum, especially as institutional attention grows around scalable, user-focused blockchain platforms.
Conclusion
NEAR Protocol rebounded 4% from recent lows after a 12.8% correction, driven by market-wide panic. However, it maintains strong fundamentals, becoming the second most-used Layer-1 blockchain with 46 million monthly users. Short-term price support at $2.22 could set the stage for further gains.