NEAR Protocol is down 1.89%, trading at $1.89

Slightly weaker but mostly flat: NEAR is currently trading at $1.89 as it maintains an active range between $1.89 and $1.94.

Trend-focused traders would be interested to note that NEAR Protocol made an initial break below its 5 day Simple Moving Average at $1.92, a possible indication of a forthcoming negative trend. According to asset volatility analysis, NEAR Protocol's lower Bollinger Band® is at $1.75, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. NEAR Protocol chart analysis: NEAR could begin to recover as it approaches significant support, now 1 cents away from $1.89. 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, Binance Coin is down to $321.48, losing $9.23, after closing at $330.72 in the preceding trading session. Cardano closed at $0.4 (down 2.31%).

Other assets are showing positive performances as FTX Token rallies 9.54% to trade around $1.36.

NEAR is now trading 85.2% below the significant high of $13 it set around 11 months ago. NEAR is currently trading with a market cap of 1.69 billion with an average daily volume of 100.19 million.