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March 02, 2023
NEAR Protocol slides down from $2.32 to $2.26 today, losing $0.058 (2.52%).
NEAR Protocol could begin to recover as it approaches significant support, now 4 cents away from $2.23. Dipping below could be an indication that further losses are ahead. Despite being in the red so far in the current trading session, NEAR peaked above its 5 day Simple Moving Average around $2.32 — typically an early indicator of a new bullish trend beginning to emerge. Bollinger Bands® shows an indication of recovery: the lower band is at $2.11, a low enough level to, generally, suggest that NEAR Protocol is trading below its fair value. Despite this, price action remains constrained around the key Fibonacci level of $2.26 currently serving as support. If price action breaks below, the next Fib hurdle is $2.19.
Technical analysis indicates that NEAR Protocol (currently on a downtrend) might reverse course and start pointing upward in the short term.
In the meantime, negative performances are also seen in other markets, UNICORN Token USD closed at $6.43 (down 2.98%). After ending today's session at $1.21, EOS lost $0.022 and is trading around $1.19.
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.
NEAR Protocol has fallen back around 86.8% from the significant high of $17.58 set 10 months ago. NEAR Protocol has a market cap of 1.95 billion with an average daily volume of 134.21 million.
