Bearish NEAR Protocol currently $0.036 lower after trading as low as $1.89

NEAR slides down from $1.93 to $1.9 today, losing $0.036 (1.89%).

Support/Resistance levels obtained from chart analysis indicate that NEAR Protocol could begin to recover as it approaches significant support, now 4 cents away from $1.9. Dipping below could be an indication that further losses are ahead. With regards to technical trend indicators, chart analysis show that NEAR made an initial break below its 10 day Simple Moving Average at $1.92, a possible indication of a forthcoming negative trend. Analysis based on the asset volatility indicates that NEAR Protocol's lower Bollinger Band® is at $1.71, 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.

In the meantime, negative performances are also seen in other markets, Bitcoin is down $731.9 from the beginning of the session and now trades around $28,516.

Positive performances can be seen by looking at other markets as FTX Token gained 9.54% and is currently trading at $1.36. TRON moves up 2.41% to trade around $0.069.

NEAR has fallen back around 85.12% from the significant high of $13 set 11 months ago. NEAR Protocol is currently trading with a market cap of 1.70 billion with an average daily volume of 101.91 million.