Slightly weaker but mostly flat: NEAR is currently trading at $2.25 as it maintains an active range between $2.23 and $2.3.
Support/Resistance levels obtained from chart analysis indicate that NEAR Protocol could begin to recover as it approaches significant support, now 15 cents away from $2.1. Dipping below could be an indication that further losses are ahead. Trend and momentum analysis indicates that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Price action remains constrained around the key Fibonacci level of $2.25 currently serving as support. If price action breaks below, the next Fib hurdle is $1.87. Analysis based on the asset volatility indicates that NEAR's lower Bollinger Band® is at $2.22, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
With market volatility ebbing, the current technical outlook indicates NEAR Protocol will remain range-bound for the immediate future.
Other assets are showing positive performances as FTX Token soars 9.54% to trade around $1.36. Having closed the previous session at $1.22, MaticNetwork USD is up 3.72% today to currently trade at around $1.27. Having closed the previous session at $13.48, Cosmos USD is up 3.17% today to currently trade at around $13.91.
NEAR has fallen back around 87.13% from the significant high of $17.58 set 10 months ago. NEAR is currently trading with a market cap of 1.92 billion with an average daily volume of 46.94 million.