- NEAR posts a 14% decline as traders watch reactions at the $1.80 support range.
- Trading volume hits $290 million in one day with $6.5 billion total volume.
- Analysts see a double bottom pattern with targets above $4 if momentum holds.
NEAR Protocol saw fresh attention after its price fell by 14% during recent market moves. Traders watched the chart as the token moved back toward the $1.80 support area.
This level has been important this year, and analysts warned that a break could open lower ranges. Ali Martinez said that a fall under $1.80 “could point toward $1,” as his chart showed various paths below this zone.
The move comes while the broader market shows fast shifts. Many traders have become cautious because the price now sits near a level used as support earlier in the year. The image shared by Martinez showed the potential steps lower, and this added more focus on how NEAR reacts near $1.80.
Network Activity Grows During Market Decline
At the same time, NEAR recorded its largest single day of trading. Analyst Emperor Osmo said the token reached $290 million in volume within twenty-four hours. He also noted that total volume has reached $6.5 billion, and fees now stand at $11.8 million.
He added that “Nothing stops this train,” as he pointed to what he called organic activity. This increase came soon after SPX was added. Traders believe this helped lift activity and brought more users to the network.
The steady rise in fees has also drawn notice because half of the total fees were generated this month. This has added a new discussion about network use during a time of market pressure.
Analysts Track a Possible Double Bottom Pattern
Another view came from Altcoin Piooners™, who saw a double bottom pattern forming on the chart. The analyst said the pattern sits near $1.80 to $1.85 and matches the retest of the 2023 low. The chart also showed a move near a long-term trendline and a rising weekly RSI.
The analyst added that the next price areas, if the trendline breaks, could be $4.20, $6.80, and near the $9.50 to $11 area. He said the setup looks clean, and the invalidation level sits below $1.60.
These views show a split between short-term caution and long-term interest. Traders continue to watch NEAR as price pressure and rising network activity shape the current outlook.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
