NEAR Protocol (NEAR) is currently trading at $1.32, reflecting a 24-hour decline of 4.55%. The asset has exhibited a daily range between $1.30 and $1.38, indicating a relatively tight trading environment with minimal volatility, as evidenced by the 24-hour volume of approximately 226.43 million NEAR, translating to a volume/market cap ratio of 13.33%.

From a technical perspective, NEAR's moving averages indicate bearish momentum, with the 8 SMA at $1.33 down 0.41% and the 55 SMA at $1.42 down 6.87%. The RSI readings further support this bearish outlook, with the 1-hour RSI at 33 indicating oversold conditions, while the 7-day RSI at 43 suggests continued weakness in price action, particularly after a 13.27% decline over the past week and a more significant 21.76% drop over the last 14 days.

Fundamentally, NEAR Protocol has struggled to maintain upward momentum, with a stark contrast from its all-time high of $20.44 achieved in January 2022. The consistent downward trend over the past month, with a 30-day price change of -12.58%, raises concerns about investor sentiment and market confidence in the protocol’s short-term prospects.

Considering the current technical indicators, the overall bearish trend, and the substantial price retracement from historical highs, a cautious stance is warranted. Therefore, the recommendation for NEAR Protocol is to Hold, as short-term downward pressure remains significant, but potential for recovery may exist if a support level around $1.30 holds.