NEAR drops from $2.03 to $1.98, losing $0.048 (2.38%) today.
NEAR Protocol made an initial break below its 21 day Simple Moving Average at $2, a possible indication of a forthcoming negative trend. NEAR's upper Bollinger Band® is at $2.11 which indicates a further downward move may follow. On the other hand, note that NEAR could begin to recover as it approaches significant support, now 3 cents away from $2. Dipping below could be an indication that further losses are ahead.
Following today's unexpected losses, extensive multifactorial technical analysis forecasts NEAR to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the NEAR Protocol is expected to attract significant bearish sentiment in the coming days.
In the meantime, negative performances are also seen in other markets, after ending today's session at $0.092, Dogecoin lost $0.003 and is trading around $0.089.
Positive performances can be seen by looking at other markets as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. EOS climbs 3.09% to trade around $1.23.
Having set a significant high of $17.57 11 months ago, NEAR is trading 88.46% lower. NEAR Protocol has a market cap of 1.71 billion with an average daily volume of 93.33 million.