NEAR set for weak finish today; down 7.47% to $1.42 with 3 hours before close

NEAR Protocol drops from $1.53 to $1.42, losing $0.114 (7.47%) today.

The MACD index is indicating that momentum is shifting from bullish to bearish following a negative crossover. When the MACD falls below the signal line, it is typically considered to be a bearish development favoring short positions. NEAR has just crossed the lower Bollinger Band® at $1.47, indicating further losses could be forthcoming. Despite this, NEAR could begin to recover as it approaches significant support, now 6 cents away from $1.48. Dipping below could be an indication that further losses are ahead.

In the short term, NEAR Protocol is expected to maintain its recent downtrend and continue spiralling lower.

In the meantime, negative performances are also seen in other markets, Cardano dips 8.41% to trade around $0.323. Binance Coin falls 7.28% to trade around $260.53. Algorand USD is down to $0.126, losing $0.011, after closing at $0.137 in the preceding trading session.

NEAR Protocol is now trading 74.41% below the significant high of $6 it set around 9 months ago. NEAR is currently trading with a market cap of 1.30 billion with an average daily volume of 49.15 million.