NEAR Protocol (NEAR) is currently trading at $1.048, reflecting a significant 24-hour decline of approximately 8.06%. The daily price action has seen a high of $1.18 and a low of $1.046, indicating a tight trading range of just 0.134% in the last 24 hours, coupled with a trading volume of around 290 million NEAR, representing 21.55% of its market capitalization.

Technical indicators reveal a bearish sentiment, with hourly moving averages showing consistent downward trends: the 8 SMA is at $1.12 (-6.84%), the 13 SMA at $1.14 (-7.72%), and the 21 SMA also at $1.14 (-8.33%). The Relative Strength Index (RSI) signals extreme oversold conditions at 14 for the hourly chart and a slightly less severe 40 for the 7-day chart, suggesting potential for a short-term rebound if buying interest emerges.

From a longer-term perspective, NEAR has faced significant downward pressure, reflected in the 7-day price change of -23.32%, 14-day change of -31.49%, and a striking 30-day change of -39.80%. The current price is a staggering 94.86% below its all-time high of $20.44, recorded on January 16, 2022, highlighting substantial losses for investors over the past year.

Given the technical indicators showing extreme oversold conditions and the significant recent price decline, there could be potential for a short-term bounce. However, the overall trend remains bearish, and without strong bullish momentum, the likelihood of sustained recovery appears low.

In conclusion, the rating for NEAR Protocol is a Hold. While the asset may present a short-term buying opportunity due to oversold conditions, the overall bearish trend and historical price performance suggest caution. Investors should monitor for potential signs of reversal before committing additional capital.