NEAR hits 2 years low before recovering $0.033

After ending today at $1.39, today NEAR dropped to its lowest point in 2 years — $1.16. It later recovered $0.033 and currently trades at $1.19.

NEAR Protocol fell below the $1.36 support zone and moved 17 cents beyond it; the next level of support with significant buyer interest is estimated at $1.34. 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 Protocol has just crossed the lower Bollinger Band® at $1.3, indicating further losses could be forthcoming.

In the short term, NEAR is expected to maintain its recent downtrend and continue spiralling lower.

Having soared to a high of $6 approximately 9 months ago, NEAR Protocol is now trading 76.85% lower. NEAR Protocol has a market cap of 1 billion with an average daily volume of 48.74 million.