NEAR decreases $0.055 following previous session close at $2.06

Trading lower, NEAR Protocol is currently down $0.055 as it ranges between $2 and $2.09 so far today.

NEAR Protocol could begin to recover as it approaches significant support, now 4 cents away from $2.04. Dipping below could be an indication that further losses are ahead. Despite being in the red so far in the current trading session, NEAR peaked above its 3 day Simple Moving Average around $2.07 — typically an early indicator of a new bullish trend beginning to emerge. Bollinger Bands® shows an indication of recovery: the lower band is at $1.93, a low enough level to, generally, suggest that NEAR is trading below its fair value.

Overall, looking at the technical analysis landscape, although technical indicators are mixed and pointing in different directions, it seems NEAR is set to appreciate despite today's setback.

In the meantime, negative performances are also seen in other markets, EOS draws back 2.89% to trade around $1.18. Algorand USD is down $0.006 from the beginning of the session and now trades around $0.22.

Positive performances can be seen by looking at other markets as FTX Token is up 9.54%.

NEAR Protocol has fallen back around 88.31% from the significant high of $17.58 set 11 months ago. NEAR Protocol has a market cap of 1.74 billion with an average daily volume of 125.52 million.