NEAR Protocol is down by $0.009 (-0.48%); currently trading around $1.94

After closing at $1.95 today, NEAR opened today at $1.95, to be greeted by bearish sentiment that overshadowing today's price action. Irrespective of the bearish mood, NEAR retains a distinct $1.9 to $2 daily range.

NEAR Protocol made an initial break below its 10 day Simple Moving Average at $1.92, a possible indication of a forthcoming negative trend. Despite this, NEAR could begin to recover as it approaches significant support, now 14 cents away from $1.8. Dipping below could be an indication that further losses are ahead.

Following today's unexpected losses, extensive multifactorial technical analysis forecasts NEAR to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the NEAR Protocol is expected to attract significant bearish sentiment in the coming days.

In the meantime, negative performances are also seen in other markets, Ripple is down to $0.362, losing $0.012, after closing at $0.374 in the preceding trading session. Solana is down $1.02 from the beginning of the session and now trades around $19.35.

Positive performances can be seen by looking at other markets as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.

NEAR reached a significant high of $17.58 around 11 months ago but has lost 88.91% since then. NEAR has a market cap of 1.68 billion with an average daily volume of 101.33 million.