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June 09, 2023Struggling to find upward momentum, NEAR Protocol has shed $0.036 to currently trade at $1.38 as it ranges between $1.37 and $1.43 so far today.
Despite being in the red so far in the current trading session, NEAR Protocol peaked above its 3 day Simple Moving Average around $1.41 — typically an early indicator of a new bullish trend beginning to emerge. The Relative Strength Index has gone below 30, going into oversold conditions and allowing more gains. Bollinger Bands® shows an indication of recovery: the lower band is at $1.39, a low enough level to, generally, suggest that NEAR is trading below its fair value. In contrast, NEAR Protocol pushed below the $1.39 support level and extended 1 cents beyond it.
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, TRON is down to $0.072, losing $0.005, after closing at $0.078 in the preceding trading session. Cardano drops 6.72% to trade around $0.3.
Other assets are showing positive performances as FTX Token jumps 9.54% to trade around $1.36.
NEAR Protocol has fallen back around 76.39% over the past 9 months, from a notable high of $6. NEAR has a market cap of 1.26 billion with an average daily volume of 48.85 million.
