NEAR Protocol set for weak finish today; down 0.6% to $1.25 with 2 hours before close

Slightly weaker but mostly flat: NEAR Protocol is currently trading at $1.25 as it maintains an active range between $1.23 and $1.28.

Trend-focused traders would be interested to note that NEAR Protocol made an initial break below its 10 day Simple Moving Average at $1.23, a possible indication of a forthcoming negative trend. Following today's trading session, chart analysis suggests NEAR reversed direction at $1.22 support zone and climbed 3 cents above it.

Notwithstanding NEAR Protocol's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

In the meantime, negative performances are also seen in other markets, Cosmos USD closed at $8.6 (down 3.41%). TRON stumbles 2.06% to trade around $0.07.

Other assets are showing positive performances as FTX Token is up 9.54%.

NEAR has recovered 6.79% since descending to a significant low of $1.18 around 5 days ago. NEAR has a market cap of 1.15 billion with an average daily volume of 52.23 million.