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Reading: NEAR Protocol Surges 4% After 12.8% Correction, User Growth Shines
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Market

NEAR Protocol Surges 4% After 12.8% Correction, User Growth Shines

Roman Hasley
Last updated: 13.06.2025 8:03 PM
Roman Hasley
Published: 13.06.2025
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NEAR Protocol Surges 4% After 12.8% Correction, User Growth Shines

Conflict between Israel and Iran spurred a crypto market sell-off on Friday, with NEAR Protocol experiencing significant price volatility despite impressive adoption metrics.

The protocol has emerged as a leading Layer-1 solution, surpassing established competitors like Ethereum, Binance Chain, and Tron in monthly active users, highlighting a growing shift in user preferences toward platforms offering lower transaction costs and improved usability.

Market analysts note that NEAR’s recent price correction occurred despite its strong fundamentals, with the token currently trading below key technical indicators.

The protocol’s focus on user-friendly infrastructure, including features like account abstraction and chain signatures, has positioned it as an attractive option for both developers and users in the blockchain space, particularly as it expands into AI applications and web3 consumer apps.

While short-term price action remains uncertain with support at $2.20 and resistance at $2.30, NEAR’s remarkable user growth suggests potential for recovery if broader market conditions improve and institutional interest continues to develop around its expanding ecosystem.

Technical Analysis

  • NEAR-USD underwent a significant correction, plummeting from $2.50 to a low of $2.18, representing a 12.8% decline over the 24-hour period.
  • The most intense selling occurred during the midnight hours (00:00-02:00), with exceptionally high volume (5.4-6.9 million) establishing a strong resistance zone around $2.37.
  • A modest recovery attempt emerged from the $2.18 support level, with price stabilizing in the $2.21-$2.25 range, though the bounce lacked conviction as evidenced by diminishing volume during recovery phases.
  • The formation of lower highs and higher lows since the initial drop suggests consolidation, with immediate support at $2.20 and resistance at $2.30 likely determining the next directional move.
  • In the last hour, NEAR-USD demonstrated significant volatility with a strong recovery from the earlier correction, climbing from $2.217 to a peak of $2.239 before consolidating.
  • The most notable price action occurred between 13:31-13:40, where NEAR surged nearly 4% on exceptionally high volume (86,916-147,856 units), establishing a new resistance zone around $2.235.
  • A brief pullback to $2.214 at 13:54 found immediate support, with buyers stepping in to push prices back above $2.22.
  • The hourly close at $2.223 represents a 0.5% gain from the opening price, with volume patterns suggesting accumulation following the earlier sell-off, potentially indicating a short-term trend reversal if prices can maintain above the $2.22 support level.
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