Coinbase Seeks SEC Approval to Offer Tokenized Stock Trading
NEAR Plunges 8% as Middle East Tensions Rattle Crypto Markets
- News In 4 Seconds
Oliver Knight
- 0
- 27 minutes read
BTC
$103,835.33
–
3.64%
ETH
$2,474.04
–
6.20%
USDT
$1.0001
–
0.02%
XRP
$2.1581
–
6.56%
BNB
$642.76
–
2.13%
SOL
$146.69
–
6.85%
USDC
$0.9998
–
0.01%
TRX
$0.2730
–
2.54%
DOGE
$0.1661
–
7.26%
ADA
$0.6050
–
7.35%
HYPE
$38.98
–
12.47%
WBT
$47.72
–
7.33%
SUI
$2.8290
–
9.11%
BCH
$467.63
–
0.17%
LINK
$12.94
–
6.95%
LEO
$9.1925
–
0.45%
XLM
$0.2522
–
5.88%
AVAX
$18.33
–
7.43%
TON
$2.9437
–
2.95%
SHIB
$0.0₄1147
–
6.25%
Share this article
By Oliver Knight, CD Analytics
Updated Jun 17, 2025, 4:46 p.m. Published Jun 17, 2025, 4:46 p.m.
- NEAR Protocol token plunged 8.29% from $2.387 to $2.189 amid significant trading volume, forming a descending channel with support at $2.19.
- Tensions between Iran and Israel are creating volatility across cryptocurrency markets, with NEAR particularly affected.
- Recent hour-by-hour analysis shows NEAR briefly formed a bullish channel gaining 8.5% before facing strong rejection at $2.218 resistance, confirming bearish sentiment.
Escalating tension in the Middle East between Iran and Israel continues to ripple through the cryptocurrency market, prompting significant downside for a number of altcoins.
Despite NEAR Protocol’s impressive milestone of reaching 46 million monthly users, the token has struggled to maintain price stability in the current geopolitical climate.
STORY CONTINUES BELOW
Don’t miss another story.Subscribe to the Crypto Daybook Americas Newsletter today.See all newslettersBy signing up, you will receive emails about CoinDesk products and you agree to ourterms of useandprivacy policy.
It currently trades at $2.11 after falling from a high of falling from $2.38.
Technical Analysis
- NEAR experienced a significant correction, falling from $2.387 to $2.189, representing an 8.29% decline.
- A notable volume spike occurred during the 22:00-00:00 hours when prices broke below the $2.30 support level.
- Trading volume exceeded 6.5 million in a single hour—nearly triple the 24-hour average.
- Price action formed a descending channel with resistance at $2.29 and support at $2.19.
- Recent consolidation has occurred near the lower boundary of the channel. • High-volume selling pressure suggests further downside risk.
- Modest recovery from $2.189 indicates potential stabilization if buyers defend current support.
- In the last hour, NEAR showed significant volatility, rising from $2.200 to $2.218 before correcting to $2.199.
- A clear bullish channel formed between 13:05-13:35, gaining 8.5% with notable volume spikes.
- Strong rejection at the $2.218 resistance level led to a rapid sell-off between 13:41-13:44.
- Sell-off volume exceeded 100,000 units, confirming the bearish reversal.
- New support established at $2.198, aligning with the lower boundary of the descending channel.
Oliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.
