NEAR Protocol (NEAR) is currently priced at $2.03, reflecting a significant decline of 14.17% over the last 24 hours. The daily trading range has been narrow, with a high of $2.39 and a low of $2.04, indicating a lack of volatility amid the price drop.

The trading volume of approximately $480.73 million represents 18.45% of the market cap, suggesting a moderate interest in trading activity despite the downward price movement. Technical indicators show bearish momentum, with the 1-hour RSI at an extreme low of 14, signaling potential oversold conditions.

Short-term moving averages reflect negative trends, with the 8 SMA at $2.15 showing a decline of 5.45%, and the longer-term averages like the 144 SMA at $2.33 down by 12.77%. This consistent downtrend across various moving averages confirms a bearish sentiment in the market.

Over the past week, NEAR has experienced a price change of -14.61%, contributing to a broader trend where the 14-day and 30-day price changes are also negative at -4.25% and -8.53%, respectively. The substantial drop from the all-time high of $20.44 indicates a significant loss of market value, raising concerns about investor confidence.

Given the current technical indicators, particularly the extreme RSI levels and consistently declining moving averages, NEAR appears to be in a bearish phase. Therefore, the recommendation is to Hold, as the potential for a short-term bounce back may occur, but the overall trend remains negative, suggesting caution before entering new positions.