| 
May 31, 2023
NEAR Protocol crashes after losing $0.04, breaking down to $1.57.
NEAR Protocol is currently flirting with an active Fibonacci support level around $1.56. NEAR's upper Bollinger Band® is at $1.71 which indicates a further downward move may follow. NEAR Protocol fell below the $1.6 support zone and moved 3 cents beyond it; the next level of support with significant buyer interest is estimated at $1.58. In contrast, despite being in the red so far in the current trading session, NEAR Protocol peaked above its 10 day Simple Moving Average around $1.61 — typically an early indicator of a new bullish trend beginning to emerge.
Overall, looking at the technical analysis landscape, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for NEAR Protocol.
In the meantime, negative performances are also seen in other markets, Bitcoin closed at $27,069 (down 2.3%). After ending today's session at $92.29, Litecoin lost $2.8 and is trading around $89.5.
Positive performances can be seen by looking at other markets as FTX Token gained 9.54% and is now trading at $1.36.
Over the past 9 months, NEAR has retreated 73.12% from a noteworthy peak of $6. NEAR Protocol is currently trading with a market cap of 1.43 billion with an average daily volume of 50.18 million.
