Losing streak continues, NEAR Protocol lost $0.068 to $1.67 adding to its four consecutive days of drops

NEAR Protocol drops $0.068 early on and steadies around the $1.67 level.

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. NEAR has just crossed the lower Bollinger Band® at $1.7, indicating further losses could be forthcoming. NEAR pushed below the $1.72 support level and extended 5 cents beyond it.

Looking forward, NEAR Protocol is poised to extend its strong downtrend and continue declining.

In the meantime, negative performances are also seen in other markets, Ripple is down to $0.435, losing $0.014, after closing at $0.449 in the preceding trading session. Bitcoin is trading around $27,750 (down $695.96).

Positive performances can be seen by looking at other markets as FTX Token jumps 9.54% to trade around $1.36.

Having set a significant high of $11.17 a year ago, NEAR is trading 84.44% lower. NEAR is currently trading with a market cap of 1.50 billion with an average daily volume of 70.71 million.