NEAR set for weak finish today; down 0.92% to $1.47 with a hour before close

NEAR Protocol is grinding lower from $1.48 to $1.47, shedding $0.014 (0.92%) today.

NEAR Protocol made an initial break below its 50 day Simple Moving Average at $1.47, a possible indication of a forthcoming negative trend. NEAR's upper Bollinger Band® is at $1.55 which indicates a further downward move may follow. In contrast, NEAR could begin to recover as it approaches significant support, now 3 cents away from $1.43. Dipping below could be an indication that further losses are ahead.

Following today's unexpected losses, extensive multifactorial technical analysis forecasts NEAR Protocol to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the NEAR Protocol is expected to attract significant bearish sentiment in the coming days.

Other assets are showing positive performances as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Litecoin is up 4.48%. Solana moves up 4.3% to trade around $19.51.

After hitting an important low of $1.18 approximately 19 days ago, NEAR Protocol has bounced back 25.77% since. NEAR Protocol has a market cap of 1.36 billion with an average daily volume of 67.40 million.