NEAR set for weak finish today; down 0.85% to $1.23 with 2 hours before close

Trading lower, NEAR Protocol is currently down $0.011 as it ranges between $1.2 and $1.24 so far today.

NEAR Protocol made an initial break below its 10 day Simple Moving Average at $1.23, a possible indication of a forthcoming negative trend. On the other hand, note that NEAR could begin to recover as it approaches significant support, now 1 cents away from $1.23. 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.

Positive performances can be seen by looking at other markets as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Bitcoin goes up 1.33% to trade around $26,731. MaticNetwork USD gained 2.3% and is now trading at $0.612.

Having set a significant high of $6 10 months ago, NEAR is trading 79.3% lower. NEAR is currently trading with a market cap of 1.13 billion with an average daily volume of 52.98 million.