NEAR Protocol is down 2.49%, trading at $1.62

NEAR Protocol drops from $1.66 to $1.62, losing $0.041 (2.49%) today.

Chart analysis suggests NEAR Protocol is currently alternating around $1.65 with price action moving above and below this key level throughout the session. Trend and momentum analysis indicates that NEAR Protocol made an initial break below its 10 day Simple Moving Average at $1.66, a possible indication of a forthcoming negative trend. Analysis based on the asset volatility indicates that NEAR Protocol'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.

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, Ripple is down to $0.459, losing $0.009, after closing at $0.469 in the preceding trading session.

Other assets are showing positive performances as FTX Token is up 9.54% to $1.36. TRON improves 4.08% to trade around $0.075.

Having set a significant high of $6.26 11 months ago, NEAR Protocol is trading 73.43% lower. NEAR Protocol is currently trading with a market cap of 1.47 billion with an average daily volume of 51.47 million.