NEAR Protocol Corrects After Overextended Rally

NEAR Protocol's price dropped by 4.36% over the last 24 hours, but experts say it's just a normal pullback after an overextended rally.

The drop follows a very strong rally for NEAR, which was one of the top gainers in the prior 24 hours during a risk-on rally for majors and high beta altcoins.

Technical analysis suggests that NEAR was temporarily overheated, with indicators showing it had moved too fast, was overbought on standard oscillators, and had very high open interest and volume.

Traders were openly targeting NEAR for short entries and profit taking, which can accelerate minor dips once the trend pauses.