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February 26, 2023
Struggling to find upward momentum, NEAR Protocol has shed $0.011 to currently trade at $2.28 as it ranges between $2.27 and $2.29 so far today.
Concerning technical analysis and more specifically, trend indicators, NEAR Protocol made an initial break below its 50 day Simple Moving Average at $2.28, a possible indication of a forthcoming negative trend. Asset volatility analysis shows that NEAR's lower Bollinger Band® is at $2.09, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. As the trading day commences, technical analysis suggests NEAR Protocol could begin to recover as it approaches significant support, now 8 cents away from $2.19. Dipping below could be an indication that further losses are ahead.
Overall, the technical outlook suggests NEAR Protocol is likely to remain muted for the immediate future, with no clear-cut direction.
In the meantime, negative performances are also seen in other markets, UNICORN Token USD closed at $6.43 (down 2.98%). Cardano withdraws 0.73% to trade around $0.359.
Other assets are showing positive performances as FTX Token is up 9.54%.
Approximately 10 months ago, NEAR Protocol reached a significant high of $17.58 but has struggled to hold onto its gains and declined 87% since then. NEAR is currently trading with a market cap of 1.96 billion with an average daily volume of 126.57 million.
