NEAR Protocol (NEAR) is currently trading at $0.975886, reflecting a significant decline of 13.81% over the last 24 hours. The price action shows a daily range from a high of $1.14 to a low of $0.879448, indicating heightened volatility and bearish sentiment.

The trading volume stands at approximately $478.24 million, constituting a 38.07% ratio of the market cap. This suggests a strong trading activity relative to its market size, but the substantial drop in price raises concerns about investor confidence.

Technical indicators reveal several short-term moving averages showing negative trends; the 8 SMA at $0.9711 is marginally positive, while the 13 SMA at $0.9865 and longer-term SMAs show declining values. The 1-hour RSI is at 31, indicating that NEAR is oversold in the short term, while the 7-day RSI of 40 suggests a persistent bearish momentum.

Fundamentally, NEAR has faced significant price depreciation over the last 30 days, down approximately 45.48%. This trend aligns with broader market conditions, likely influenced by macroeconomic factors and overall investor sentiment towards cryptocurrencies.

Given the significant price drop, low RSI levels, and negative price momentum, NEAR is currently positioned for potential recovery in the very short term. However, the longer-term outlook remains weak, with critical resistance points identified around $1.03 and $1.11 that could be challenging to break.

In conclusion, the current bearish trend combined with oversold conditions suggests a potential for a short-term bounce. However, due to the overall negative price action and longer-term downward trajectory, the recommendation is to Hold NEAR until clearer signs of recovery emerge, at which point a re-evaluation may be warranted.