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July 04, 2023
NEAR drops from $1.46 to $1.41, losing $0.046 (3.15%) today.
NEAR Protocol made an initial break below its 10 day Simple Moving Average at $1.43, a possible indication of a forthcoming negative trend. NEAR Protocol is currently flirting with an active Fibonacci support level around $1.42. NEAR's upper Bollinger Band® is at $1.53 which indicates a further downward move may follow. On the other hand, note that NEAR could begin to recover as it approaches significant support, now 4 cents away from $1.37. 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 is expected to attract significant bearish sentiment in the coming days.
In the meantime, negative performances are also seen in other markets, Bitcoin Cash is down to $274.21, losing $16.19, after closing at $290.41 in the preceding trading session. EOS is down to $0.744, losing $0.023, after closing at $0.767 in the preceding trading session.
Other assets are showing positive performances as FTX Token is up 9.54%.
NEAR has fallen back around 75.71% from the significant high of $6 set 10 months ago. NEAR Protocol is currently trading with a market cap of 1.31 billion with an average daily volume of 67.21 million.
