- NEAR Protocol drops to $1.89, marking a 15% weekly decline.
- Trading volume surges by over 90%, despite continued bearish sentiment.
- Analysts forecast possible short-term bounces, but long-term outlook remains cautious.
The NEAR Protocol (NEAR) continues to confront significant bearish pressure, with its current market price standing at $1.89, a 3.24% dip in the last 24 hours. This decline contributes to a broader 15% drop over the past week, underscoring the ongoing weakness in the altcoin’s market structure.
Though the price dipped, NEAR experienced an unexplainable spike in its 24-hour trading volume, drumming up by 90.16% to $235.57 million. Nevertheless, this activity surge doesn’t mean that there has been any form of upward momentum or rather accumulation is more predominant at the sell side.
Technical signals also show the market is likely to keep going down. The well-known analyst UnknowTraderAi says that all the exponential moving averages (EMAs) are moving downwards, which means selling pressure is strong.
The key support is at $1.98 and a lower level at $1.80. If the price falls below these points, bigger losses could happen. Resistance levels are higher at $2.15 and $2.30, but attempts to bounce back have been weak. There are no clear signs that the downtrend will stop or reverse soon.
Short-term traders remain cautious during downtrend
The market has been going down for a while, so short-term traders are being careful. Some small price jumps might attract quick traders, but the safest move is still to bet on prices falling.
The $1.98 price level is very important. If the price drops below this point, it could fall quickly. Many traders are watching this level closely because it might cause prices to drop even more. Without a strong change in momentum or big investors stepping in, it’s unlikely the market will bounce back soon.
NEAR Protocol Long-Term Price Predictions for 2025
Focusing beyond the current technical drop, long term forecasts for NEAR Protocol are a basket of hope and fear. DigitalCoinPrice predicts an upbeat future for 2025 regarding NEAR suggesting NEAR might resume trading between $3.10 and $4.17 challenging $20.42 as maximum trading price in its history.
In a contrary manner to this, Changelly shows a technically conservative approach. For June, 2025 their estimate is $2.33 as the maximum price of NEAR with an average trading range almost at $2.32. Their forecasted ROI is 25.3%, which falls far behind the bullish investors’ expectations.
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