NEAR is down $0.018 (1.12%), trading around $1.63

NEAR slides down from $1.65 to $1.63 today, losing $0.018 (1.12%).

Visual analysis of NEAR's chart shows that NEAR Protocol could begin to recover as it approaches significant support, now 5 cents away from $1.57. Dipping below could be an indication that further losses are ahead. Concerning technical analysis and more specifically, trend indicators, 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. According to momentum evaluation, the Relative Strength Index has gone below 30, going into oversold conditions and allowing more gains. According to asset volatility analysis, NEAR Protocol's lower Bollinger Band® is at $1.64, 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.

Other assets are showing positive performances as Bitcoin Cash is up 9.97% to $122.32. Having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. EOS is up 2.03%.

NEAR Protocol has shed $7.96 points and is languishing 82.86% lower over the past year, leaving its yearly highs around $9.59 in the rear-view mirror. NEAR Protocol is currently trading with a market cap of 1.46 billion with an average daily volume of 70.18 million.