After closing at $3.1 today, NEAR Protocol opened today at $3.1, to be greeted by bearish sentiment that overshadowing today's price action. Irrespective of the bearish mood, NEAR Protocol retains a distinct $3 to $3.14 daily range.
NEAR Protocol made an initial break below its 21 day Simple Moving Average at $3.02, a possible indication of a forthcoming negative trend. NEAR Protocol's upper Bollinger Band® is at $3.28 which indicates a further downward move may follow. On the other hand, note that NEAR Protocol could begin to recover as it approaches significant support, now 8 cents away from $3. Dipping below could be an indication that further losses are ahead.
Overall, looking at the technical analysis landscape, it seems NEAR is likely to continue pointing down in the short term.
Positive performances can be seen by looking at other markets as having closed the previous session at $1.14, MaticNetwork USD is up 5.55% today to currently trade at around $1.2. Litecoin is up 3.61%. Having closed the previous session at $0.404, Algorand USD is up 4.5% today to currently trade at around $0.422.
Approximately 9 months ago, NEAR reached a significant high of $20.2 but has struggled to hold onto its gains and declined 84.67% since then. NEAR is currently trading with a market cap of 2.52 billion with an average daily volume of 28.25 million.