NEAR Protocol drops $0.065 early on and steadies around the $2.93 level.
Technical analysis trend indicators suggest that NEAR Protocol made an initial break below its 10 day Simple Moving Average at $2.95, a possible indication of a forthcoming negative trend. According to asset volatility analysis, NEAR's lower Bollinger Band® is at $2.6, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Chart analysis suggests NEAR could begin to recover as it approaches significant support, now 5 cents away from $2.89. Dipping below could be an indication that further losses are ahead.
All in all, the technical analysis suggests NEAR Protocol has no clear-cut direction.
In the meantime, negative performances are also seen in other markets, after ending today's session at $0.469, Ripple lost $0.012 and is trading around $0.457. Bitcoin Cash is down $2.09 from the beginning of the session and now trades around $108.85. EOS is down to $1.08, losing $0.019, after closing at $1.1 in the preceding trading session.
NEAR traded as high as $20.2 before shedding 80.55% lower over the past six months. NEAR Protocol is currently trading with a market cap of 2.39 billion with an average daily volume of 21.36 million.