After three days of persistent declines, NEAR Protocol stabilises around $2.1

NEAR Protocol is now trading at $2.1 after tracing out a steady $2.09 – $2.11 range today.

Trend 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. According to asset volatility analysis, NEAR's upper Bollinger Band® is at $2.68 and the lower is $2.03. As the trading day commences, technical analysis suggests NEAR Protocol is approaching key support, around 9 cents away from $2. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.

Overall, the technical outlook suggests NEAR is likely to remain muted for the immediate future, with no clear-cut direction.

While NEAR is pretty flat so far today, mixed performances are seen elsewhere as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. UNICORN Token USD closed at $6.43 (down 2.98%). EOS is down $0.018 from the beginning of the session and now trades around $1.3.

Approximately 10 months ago, NEAR Protocol reached a significant high of $17.58 but has struggled to hold onto its gains and declined 88.06% since then. NEAR is currently trading with a market cap of 1.81 billion with an average daily volume of 134.82 million.