NEAR Protocol (NEAR) is currently priced at $1.86, reflecting a significant 24-hour decline of 10.74%. The daily trading range is tight, with a high of $2.09 and a low of $1.83, indicating a lack of volatility despite substantial trading volume of approximately $522.83 million, representing 21.91% of its market cap.

Technical indicators show bearish momentum, particularly with the 1-hour RSI at an extremely low 19, suggesting oversold conditions. The 7-day RSI at 42 further supports this, indicating potential for short-term recovery but overall weak market sentiment, particularly as the price has declined by over 21% in the past week and 36.8% over the last 14 days.

The moving averages also reflect a bearish trend, with the 8 SMA at $1.92 down 2.97% and the 21 SMA at $2.00 down 7.10%. This consistent downward pressure signals that NEAR is struggling to gain momentum, as prices remain significantly below longer-term moving averages like the 55 SMA ($2.18) and 144 SMA ($2.26).

Fundamentally, NEAR's all-time high of $20.44 reached in January 2022 indicates a long-term decline, and the current price reflects a loss of over 90% from that peak. Given the current price action, combined with negative sentiment and declining RSI levels, there appears to be no immediate catalyst for a price recovery.

In conclusion, NEAR Protocol is currently in a bearish phase with little indication of a reversal in the short term. Based on the analysis of technical indicators and market trends, the recommendation is to Hold, as entering new positions could expose traders to further downside risk while waiting for potential stabilization or recovery signals.