After ending the previous trading day at $1.69, NEAR went up to $1.73 only to drop back; still positive overall today, now trading at $1.7.
NEAR Protocol could be slowing down soon as it approaches resistance at $1.7. Of course, crossing it might suggest further gains are ahead. Although up today, early price action saw NEAR dropping below its 5 day Simple Moving Average at $1.66 — an early indicator that a new downward trend could be emerging.
Despite basking in an uptrend and bullish intraday sentiment, chart analysis indicates NEAR is set for a reversal in the coming days.
NEAR shows positive signs, other assets are also on par: Ethereum moves up 2.35% to trade around $1,210.76. Cosmos USD gained 2.73% and is now trading at $10.17. FTX Token improves 1.78% to trade around $1.31.
Approximately 10 months ago, NEAR reached a significant high of $20.2 but has struggled to hold onto its gains and declined 91.64% since then. NEAR is currently trading with a market cap of 1.41 billion with an average daily volume of 34.70 million.