NEAR drops from $2.58 to $2.51, losing $0.066 (2.55%) today.
NEAR Protocol made an initial break below its 5 day Simple Moving Average at $2.49, a possible indication of a forthcoming negative trend. NEAR's upper Bollinger Band® is at $2.76 which indicates a further downward move may follow. In contrast, NEAR could begin to recover as it approaches significant support, now 5 cents away from $2.46. Dipping below could be an indication that further losses are ahead.
Following today's unexpected losses, extensive multifactorial technical analysis forecasts NEAR Protocol to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the NEAR is expected to attract significant bearish sentiment in the coming days.
In the meantime, negative performances are also seen in other markets, Dogecoin closed at $0.089 (down 1.55%).
Other assets are showing positive performances as UNICORN Token USD is up 2,597,530%. FTX Token added 9.54% to its value, now trading at $1.36.
NEAR Protocol has fallen back around 85.35% over the past 9 months, from a notable high of $17.58. NEAR Protocol has a market cap of 2.14 billion with an average daily volume of 50.50 million.