NEAR Protocol drops from $1.69 to $1.65, losing $0.038 (2.22%) today.
NEAR Protocol made an initial break below its 21 day Simple Moving Average at $1.69, a possible indication of a forthcoming negative trend. NEAR Protocol's upper Bollinger Band® is at $1.8 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 3 cents away from $1.63. Dipping below could be an indication that further losses are ahead.
Overall, looking at the technical analysis landscape, it seems NEAR is likely to start pointing downward in the short term.
In the meantime, negative performances are also seen in other markets, after ending today's session at $1.39, FTX Token lost $0.045 and is trading around $1.35. After ending today's session at $76.96, Litecoin lost $1.29 and is trading around $75.67.
At the same time, TRON moves 0.49% to trade around $0.053.
NEAR is now trading 91.62% below the significant high of $20.2 it set around 10 months ago. NEAR Protocol has a market cap of 1.38 billion with an average daily volume of 21.51 million.