NEAR slides down $0.038 following previous session close at $1.7

NEAR slides down from $1.7 to $1.66 today, losing $0.038 (2.22%).

Technical analysis shows that NEAR Protocol could begin to recover as it approaches significant support, now 5 cents away from $1.66. Dipping below could be an indication that further losses are ahead. Trend analysis indicates that NEAR Protocol made an initial break below its 5 day Simple Moving Average at $1.68, a possible indication of a forthcoming negative trend. Analysis based on the asset volatility indicates that NEAR's lower Bollinger Band® is at $1.53, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

Overall, while NEAR has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

In the meantime, negative performances are also seen in other markets, Litecoin is down to $91.48, losing $2.39, after closing at $93.88 in the preceding trading session.

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. Ripple is up 3.21%.

11 months ago NEAR Protocol reached a significant high of $6.26 but has consequently lost 72.82% since then. NEAR Protocol has a market cap of 1.51 billion with an average daily volume of 51.13 million.