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May 13, 2023
NEAR is grinding lower from $1.65 to $1.62, shedding $0.028 (1.71%) today.
Trend and momentum analysis indicates that NEAR Protocol made an initial break below its 5 day Simple Moving Average at $1.63, a possible indication of a forthcoming negative trend. Analysis based on the asset volatility indicates that NEAR's lower Bollinger Band® is at $1.53, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. NEAR chart analysis: NEAR could begin to recover as it approaches significant support, now 5 cents away from $1.58. Dipping below could be an indication that further losses are ahead.
Overall, the technical outlook suggests NEAR is likely to remain muted for the immediate future, with no clear-cut direction.
In the meantime, negative performances are also seen in other markets, Bitcoin Cash is trading around $112.95 (down $2.02). After ending today's session at $6.63, UNICORN Token USD lost $0.197 and is trading around $6.43.
Positive performances can be seen by looking at other markets as FTX Token soars 9.54% to trade around $1.36.
NEAR reached a significant high of $7.37 around 11 months ago but has lost 77.6% since then. NEAR is currently trading with a market cap of 1.46 billion with an average daily volume of 55.92 million.
