NEAR Protocol set for weak finish today; down 1.52% to $1.18 with 2 hours before close

Slightly weaker but mostly flat: NEAR Protocol is currently trading at $1.18 as it maintains an active range between $1.17 and $1.24.

Despite being in the red so far in the current trading session, NEAR Protocol peaked above its 5 day Simple Moving Average around $1.23 — typically an early indicator of a new bullish trend beginning to emerge. Bollinger Bands® shows an indication of recovery: the lower band is at $1.09, a low enough level to, generally, suggest that NEAR is trading below its fair value. NEAR Protocol could begin to recover as it approaches significant support, now 2 cents away from $1.18. Dipping below could be an indication that further losses are ahead.

Overall, looking at the technical analysis landscape, although technical indicators are mixed and pointing in different directions, it seems NEAR is set to appreciate despite today's setback.

In the meantime, negative performances are also seen in other markets, Ripple closed at $0.479 (down 7.77%). After ending today's session at $0.675, EOS lost $0.044 and is trading around $0.632. Litecoin closed at $72.9 (down 5.88%).

Having soared to a high of $6 approximately 10 months ago, NEAR Protocol is now trading 80% lower. NEAR Protocol is currently trading with a market cap of 1 billion with an average daily volume of 54.39 million.