$NEAR Protocol’s daily active addresses hit 3M – Bullish sign? - AMBCrypto Analytics

NEAR Protocol is facing continued downward pressure, trading at $4.87 after a 2.36% drop in the last 24 hours. Trading volumes have decreased by over 30%, signaling reduced market participation. The bearish sentiment is evident, as the MACD indicator shows the MACD line below the signal line, accompanied by red histogram bars, confirming the ongoing downtrend. Additionally, the RSI at 51 suggests a neutral market sentiment, but the RSI line below its signal further highlights a bearish momentum.

If sellers maintain control, NEAR is likely to test the 0.236 Fibonacci support level at $4.761. On the upside, if buyers reenter the market, NEAR could target resistance at $5.31, potentially climbing toward $6. As market participation remains low, traders should monitor key support and resistance levels closely for potential shifts in trend.