Crypto
NEAR Price in Peril as Bearish Momentum Takes Hold
NEAR Protocol's price has dropped to $1.59 after a 5.65% single-session flush, leaving it pinned to its 200-day moving average.
The daily chart shows that NEAR is in a structurally broken state, with every short-term moving average stacked above the current price like a wall of resistance.
The Bollinger Band breach adds to the discomfort, as the lower band is at $1.64 and NEAR is currently trading below it, which can precede either a violent snapback or an accelerating breakdown.
The momentum picture isn't giving bulls much to work with, with the RSI hovering just above the oversold threshold and the MACD histogram flatlined at zero, meaning bearish momentum is decelerating without any sign of reversing.